Aberdeen Group plc increased its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 180.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,565 shares of the medical research company's stock after buying an additional 110,924 shares during the period. Aberdeen Group plc owned 0.09% of Exact Sciences worth $7,470,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. E Fund Management Co. Ltd. boosted its stake in Exact Sciences by 44.3% during the 1st quarter. E Fund Management Co. Ltd. now owns 21,793 shares of the medical research company's stock valued at $943,000 after purchasing an additional 6,687 shares during the last quarter. S Bank Fund Management Ltd acquired a new position in Exact Sciences during the 1st quarter valued at about $56,000. National Pension Service boosted its stake in Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company's stock valued at $29,000 after purchasing an additional 292 shares during the last quarter. Operose Advisors LLC boosted its stake in Exact Sciences by 15.0% during the 1st quarter. Operose Advisors LLC now owns 6,856 shares of the medical research company's stock valued at $297,000 after purchasing an additional 892 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Exact Sciences during the 1st quarter valued at about $45,334,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Katherine S. Zanotti sold 3,207 shares of the business's 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 transaction, the director owned 72,759 shares in the company, valued at $3,870,778.80. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Edward Doyle sold 1,485 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total transaction of $62,399.70. Following the completion of the sale, the director owned 59,962 shares in the company, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.
Wall Street Analyst Weigh In
EXAS has been the topic of several recent analyst reports. Cowen reissued a "buy" rating on shares of Exact Sciences in a research report on Thursday, August 7th. Robert W. Baird lifted 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. Piper Sandler lowered their price target on shares of Exact Sciences from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, August 11th. UBS Group reduced their price objective on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Exact Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Exact Sciences presently has an average rating of "Moderate Buy" and an average price target of $67.43.
Get Our Latest Research Report on Exact Sciences
Exact Sciences Price Performance
NASDAQ:EXAS traded down $1.6360 during midday trading on Monday, hitting $45.8340. The company had a trading volume of 854,168 shares, compared to its average volume of 2,782,013. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $72.83. The stock's fifty day moving average price is $49.57 and its 200-day moving average price is $49.27. The company has a market capitalization of $8.68 billion, a PE ratio of -8.45, a P/E/G ratio of 4.85 and a beta of 0.93. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94.
Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.24. The business had revenue of $811.09 million during the quarter, compared to the consensus estimate of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) earnings per share. As a group, research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.
About Exact Sciences
(
Free Report)
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.
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