Exact Sciences Corporation (NASDAQ:EXAS) Stock Holdings Increased by High Note Wealth LLC

High Note Wealth LLC increased its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 225.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,710 shares of the medical research company's stock after acquiring an additional 7,420 shares during the quarter. High Note Wealth LLC's holdings in Exact Sciences were worth $464,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Capital World Investors boosted its position in Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock worth $985,439,000 after acquiring an additional 1,696,321 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Exact Sciences by 74.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock worth $323,669,000 after purchasing an additional 2,462,165 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Exact Sciences by 25.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock worth $239,922,000 after purchasing an additional 876,985 shares during the period. Geode Capital Management LLC raised its stake in Exact Sciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company's stock worth $175,165,000 after purchasing an additional 16,828 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Exact Sciences by 107.7% during the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock worth $164,037,000 after purchasing an additional 1,513,873 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Stock Performance

Exact Sciences stock traded up $0.68 during midday trading on Wednesday, reaching $53.67. 1,571,543 shares of the stock traded hands, compared to its average volume of 2,576,166. The company has a current ratio of 2.73, a quick ratio of 2.38 and a debt-to-equity ratio of 0.97. The firm has a fifty day moving average price of $54.37 and a two-hundred day moving average price of $50.98. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of -9.74, a PEG ratio of 11.31 and a beta of 0.95. 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 released its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The company had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. During the same period in the previous year, the firm earned ($0.60) EPS. Exact Sciences's revenue was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insider Activity at Exact Sciences

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 shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the sale, the director directly owned 72,759 shares in the company, valued at $3,870,778.80. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EXAS shares. Barclays cut their price target on shares of Exact Sciences from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 24th. Guggenheim reissued a "buy" rating and issued a $60.00 target price on shares of Exact Sciences in a research note on Friday, April 11th. Royal Bank Of Canada raised 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 initiated coverage on shares of Exact Sciences in a report on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target for the company. Finally, Robert W. Baird raised their price objective 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. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

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.