TD Asset Management Inc Has $15.32 Million Stock Holdings in Exact Sciences Corporation (NASDAQ:EXAS)

Key Points

• TD Asset Management Inc reduced its stake in Exact Sciences Corporation by 28.7%, owning 0.19% of the company's shares valued at $15.3 million after selling 142,273 shares in the first quarter.
• Several hedge funds have increased their positions in Exact Sciences, with Larson Financial Group LLC notably raising its stake by 2,804.8% during the same period.
• Analyst ratings for Exact Sciences are generally positive, with a consensus rating of "Moderate Buy" and an average price target of $70.50.

TD Asset Management Inc trimmed its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 28.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,771 shares of the medical research company's stock after selling 142,273 shares during the period. TD Asset Management Inc owned 0.19% of Exact Sciences worth $15,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EXAS. Price T Rowe Associates Inc. MD increased its stake in Exact Sciences by 74.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock valued at $323,669,000 after purchasing an additional 2,462,165 shares in the last quarter. Capital World Investors boosted its holdings in shares of Exact Sciences by 10.7% in the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after buying an additional 1,696,321 shares during the period. Mackenzie Financial Corp boosted 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 period. Norges Bank acquired a new position in shares of Exact Sciences in the fourth quarter valued at approximately $50,625,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Exact Sciences by 25.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock valued at $239,922,000 after buying an additional 876,985 shares during the period. 88.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

EXAS has been the subject of several research analyst reports. Robert W. Baird upped their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Evercore ISI upped their price target on shares of Exact Sciences from $66.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Royal Bank Of Canada upped their price target on shares of Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" 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 target price for the company. Finally, Barclays reduced their target price 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. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Exact Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

Insider Buying and Selling at Exact Sciences

In other 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 value of $170,612.40. Following the transaction, the director directly owned 72,759 shares of the company's stock, valued at $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Exact Sciences Stock Performance

EXAS stock traded up $0.81 during trading hours on Friday, reaching $47.76. The stock had a trading volume of 2,486,655 shares, compared to its average volume of 2,176,708. The stock has a market capitalization of $9.01 billion, a PE ratio of -8.67, a price-to-earnings-growth ratio of 10.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38. The stock has a 50-day simple moving average of $52.75 and a 200 day simple moving average of $50.32. Exact Sciences Corporation has a fifty-two week low of $39.97 and a fifty-two week high of $72.83.

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

Exact Sciences Company 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.