EULAV Asset Management Grows Position in Exact Sciences Corporation (NASDAQ:EXAS)

EULAV Asset Management increased its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 17.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 335,000 shares of the medical research company's stock after purchasing an additional 50,000 shares during the quarter. EULAV Asset Management owned approximately 0.18% of Exact Sciences worth $14,502,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in Exact Sciences by 32.2% during the fourth quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company's stock worth $534,000 after purchasing an additional 2,315 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Exact Sciences during the first quarter worth $34,000. GAMMA Investing LLC boosted its holdings in Exact Sciences by 15.5% during the first quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock worth $184,000 after purchasing an additional 569 shares during the last quarter. Merit Financial Group LLC boosted its holdings in Exact Sciences by 110.0% during the first quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock worth $381,000 after purchasing an additional 4,609 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after purchasing an additional 913 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Analyst Ratings Changes

EXAS has been the topic of several analyst reports. Robert W. Baird upped their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Evercore ISI raised their price target on shares of Exact Sciences from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday. Barclays lowered their price target on shares of Exact Sciences from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 24th. Royal Bank Of Canada increased their price objective on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Finally, Guggenheim reiterated a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.50.

Exact Sciences Trading Up 3.3%

Exact Sciences stock traded up $1.77 during mid-day trading on Wednesday, hitting $55.31. 2,543,327 shares of the stock were exchanged, compared to its average volume of 2,581,985. The firm's fifty day simple moving average is $54.23 and its two-hundred day simple moving average is $51.15. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of -10.04, a PEG ratio of 11.43 and a beta of 0.95. The company has a quick ratio of 2.38, a current ratio of 2.73 and a debt-to-equity ratio of 0.97. Exact Sciences Corporation has a 12 month low of $39.97 and a 12 month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The business had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. During the same quarter last year, the firm posted ($0.60) EPS. Exact Sciences's revenue was up 10.9% compared to the same quarter last year. Analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Activity

In related news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total transaction of $170,612.40. Following the completion of the transaction, the director owned 72,759 shares in the company, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Exact Sciences Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.