AMF Tjanstepension AB Has $460,000 Holdings in Exact Sciences Corporation (NASDAQ:EXAS)

Key Points

• AMF Tjanstepension AB significantly reduced its holdings in Exact Sciences Corporation by 81% in the first quarter, owning 10,624 shares after selling 45,292 shares.
• Exact Sciences reported a quarterly revenue of $811.09 million, exceeding analyst estimates, with an EPS of $0.22, beating a consensus estimate of ($0.02).
• Equities analysts have recently adjusted their price targets for Exact Sciences, with Barclays lowering its target from $65.00 to $55.00 while maintaining an "overweight" rating on the stock.

AMF Tjanstepension AB decreased its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 81.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,624 shares of the medical research company's stock after selling 45,292 shares during the period. AMF Tjanstepension AB's holdings in Exact Sciences were worth $460,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Exact Sciences in the first quarter valued at approximately $34,000. Cerity Partners LLC increased its stake in shares of Exact Sciences by 24.0% in the first quarter. Cerity Partners LLC now owns 33,598 shares of the medical research company's stock valued at $1,454,000 after purchasing an additional 6,508 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Exact Sciences in the first quarter valued at approximately $1,171,000. GAMMA Investing LLC increased its stake in shares of Exact Sciences by 15.5% in the first quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock valued at $184,000 after purchasing an additional 569 shares during the period. Finally, Merit Financial Group LLC increased its stake in shares of Exact Sciences by 110.0% in the first quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock valued at $381,000 after purchasing an additional 4,609 shares during the period. Institutional investors own 88.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EXAS shares. Robert W. Baird raised their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. UBS Group lowered their price objective on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. Royal Bank Of Canada lowered their price objective on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Finally, Barclays dropped their price target on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.43.

Insider Activity

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of Exact Sciences 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 sale, the director owned 72,759 shares of the company's stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Exact Sciences Stock Up 7.2%

Shares of NASDAQ:EXAS traded up $3.01 during trading on Wednesday, reaching $44.75. 2,291,101 shares of the company traded hands, compared to its average volume of 2,759,536. The firm has a fifty day simple moving average of $50.99 and a 200 day simple moving average of $49.84. The firm has a market cap of $8.47 billion, a P/E ratio of -8.23, a price-to-earnings-growth ratio of 4.73 and a beta of 0.93. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $72.83. 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 issued its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.24. The company had revenue of $811.09 million during the quarter, compared to analyst estimates of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. Analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

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.