Exact Sciences Corporation (NASDAQ:EXAS) Shares Purchased by Tredje AP fonden

Key Points

• Tredje AP fonden significantly increased its stake in Exact Sciences Corporation by 386.8% during the first quarter, now owning 68,541 shares valued at approximately $2.97 million.
• Exact Sciences reported a smaller loss of ($0.21) EPS for the last quarter, outperforming analyst expectations of ($0.37), with a year-over-year revenue increase of 10.9%.
• As of now, 88.82% of Exact Sciences' stock is held by institutional investors, reflecting strong support from the investment community.

Tredje AP fonden lifted its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 386.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,541 shares of the medical research company's stock after buying an additional 54,461 shares during the quarter. Tredje AP fonden's holdings in Exact Sciences were worth $2,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC increased its position in Exact Sciences by 2,804.8% during the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after purchasing an additional 589 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Exact Sciences during the 1st quarter worth about $34,000. Banque Cantonale Vaudoise purchased a new stake in Exact Sciences during the 1st quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Exact Sciences during the 4th quarter worth about $45,000. Finally, Ostrum Asset Management increased its position in Exact Sciences by 28.4% during the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock worth $134,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Robert W. Baird lifted their price objective on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Evercore ISI lifted their price target on Exact Sciences from $66.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Mizuho assumed coverage on Exact Sciences in a report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target for the company. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Finally, Royal Bank Of Canada lifted their price target on Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $70.50.

Exact Sciences Trading Up 1.7%

Shares of NASDAQ:EXAS traded up $0.81 during trading on Friday, reaching $47.76. 2,486,655 shares of the stock were exchanged, compared to its average volume of 2,176,708. The firm's 50-day moving average price is $52.75 and its 200 day moving average price is $50.32. The firm has a market cap of $9.01 billion, a price-to-earnings 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 quick ratio of 2.38 and a current ratio of 2.73. Exact Sciences Corporation has a 12-month low of $39.97 and a 12-month high of $72.83.

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

Insider Buying and Selling

In related news, Director Katherine S. Zanotti sold 3,207 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $53.20, for a total transaction of $170,612.40. Following the transaction, the director directly owned 72,759 shares of the company's stock, valued at approximately $3,870,778.80. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

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.