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

EULAV Asset Management grew its stake in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 17.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 335,000 shares of the medical research company's stock after acquiring an additional 50,000 shares during the period. EULAV Asset Management owned about 0.18% of Exact Sciences worth $14,502,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank Pictet & Cie Europe AG increased its stake in Exact Sciences by 1.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company's stock worth $7,250,000 after buying an additional 1,547 shares during the period. Jones Financial Companies Lllp increased its stake in Exact Sciences by 32.2% during the 4th quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company's stock worth $534,000 after buying an additional 2,315 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Exact Sciences during the 4th quarter worth approximately $66,000. Charles Schwab Investment Management Inc. increased its stake in Exact Sciences by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company's stock worth $74,785,000 after buying an additional 38,849 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Exact Sciences during the 4th quarter worth approximately $1,604,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays lowered their price target on shares of Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, June 24th. Robert W. Baird boosted their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Mizuho assumed coverage on shares of Exact Sciences in a report on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target for the company. Guggenheim reiterated a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Finally, Evercore ISI boosted their price target on shares of Exact Sciences from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

Exact Sciences Stock Performance

NASDAQ:EXAS traded down $1.99 during trading hours on Thursday, reaching $53.32. 3,888,041 shares of the company's stock were exchanged, compared to its average volume of 2,587,203. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of -9.68, a P/E/G ratio of 11.43 and a beta of 0.95. The company has a 50-day moving average of $54.23 and a 200 day moving average of $51.15. 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 1-year low of $39.97 and a 1-year high of $72.83.

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

Insider Buying and Selling

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the company's stock in a transaction on 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company's stock.

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.