Edmond DE Rothschild Holding S.A. Boosts Stock Position in Exact Sciences Corporation $EXAS

Key Points

• Edmond DE Rothschild Holding S.A. increased its position in Exact Sciences Corporation by 7.5%, owning a total of 287,648 shares valued at approximately $12.45 million at the end of the reporting period.
• Several hedge funds have significantly increased their stakes in Exact Sciences, with Larson Financial Group LLC lifting its stake by an exceptional 2,804.8% during the first quarter.
• Exact Sciences recently reported an EPS of $0.22, exceeding analysts’ expectations, with revenue for the quarter at $811.09 million, reflecting a 16.0% increase year-over-year.

Edmond DE Rothschild Holding S.A. grew its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 287,648 shares of the medical research company's stock after acquiring an additional 20,000 shares during the period. Edmond DE Rothschild Holding S.A. owned 0.15% of Exact Sciences worth $12,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EXAS. Mackenzie Financial Corp raised its holdings in shares of Exact Sciences by 107.7% in the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after buying an additional 1,513,873 shares during the last quarter. Nuveen LLC bought a new stake in shares of Exact Sciences in the 1st quarter valued at about $45,334,000. Price T Rowe Associates Inc. MD increased its stake in shares of Exact Sciences by 11.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company's stock valued at $277,225,000 after acquiring an additional 643,631 shares during the last quarter. Vanguard Group Inc. increased its stake in Exact Sciences by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company's stock worth $763,535,000 after purchasing an additional 617,384 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in Exact Sciences in the 1st quarter worth $20,803,000. 88.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on EXAS. Royal Bank Of Canada cut their price objective on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. Zacks Research downgraded Exact Sciences from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Evercore ISI cut their price target on Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Cowen reaffirmed a "buy" rating on shares of Exact Sciences in a report on Thursday, August 7th. Finally, Barclays cut their price target on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.05.

Exact Sciences Price Performance

Exact Sciences stock traded up $1.11 during mid-day trading on Tuesday, reaching $55.00. The company had a trading volume of 2,147,308 shares, compared to its average volume of 2,806,251. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $72.83. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The company has a market cap of $10.41 billion, a P/E ratio of -10.10, a P/E/G ratio of 5.50 and a beta of 1.05. The business has a fifty day simple moving average of $48.74 and a 200 day simple moving average of $49.14.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.24. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The firm had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. During the same quarter last year, the business posted ($0.09) earnings per share. The company's quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insider Activity

In other 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 value of $170,612.40. Following the completion of the sale, the director owned 72,759 shares of the company's stock, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Edward Doyle sold 1,485 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total transaction of $62,399.70. Following the completion of the sale, the director directly owned 59,962 shares of the company's stock, valued at $2,519,603.24. This trade represents a 2.42% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

About Exact Sciences

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.