Korea Investment CORP Has $4.93 Million Stock Holdings in Exact Sciences Corporation $EXAS

Key Points

• Korea Investment CORP significantly increased its stake in Exact Sciences Corporation by 289.4%, owning 113,966 shares worth approximately $4.93 million.
• Exact Sciences reported a quarterly revenue of $811.09 million, surpassing expectations and reflecting a 16.0% year-over-year increase.
• Analysts have mixed ratings for Exact Sciences, with a consensus rating of "Moderate Buy" and an average target price of $67.43.

Korea Investment CORP raised its stake in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 289.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 113,966 shares of the medical research company's stock after buying an additional 84,700 shares during the quarter. Korea Investment CORP owned 0.06% of Exact Sciences worth $4,934,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after acquiring an additional 589 shares in the last quarter. National Pension Service grew its position in Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after acquiring an additional 292 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Exact Sciences in the first quarter worth approximately $34,000. Banque Cantonale Vaudoise bought a new stake in Exact Sciences in the first quarter worth approximately $34,000. Finally, Bayforest Capital Ltd grew its position in Exact Sciences by 95.8% in the first quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company's stock worth $40,000 after acquiring an additional 453 shares in the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Price Performance

NASDAQ EXAS opened at $47.47 on Friday. 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 fifty day simple moving average of $49.57 and a 200 day simple moving average of $49.35. The company has a market cap of $8.99 billion, a P/E ratio of -8.74, a P/E/G ratio of 4.77 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.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $811.09 million during the quarter, compared to the consensus estimate of $774.43 million. During the same period in the prior year, the firm earned ($0.09) EPS. Exact Sciences's quarterly revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the 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 directly owned 72,759 shares of the company's stock, valued at $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 available at this link. Also, Director James Edward Doyle sold 1,485 shares of the 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 approximately $2,519,603.24. This trade represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on EXAS shares. UBS Group decreased their target price on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Royal Bank Of Canada decreased their target price on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. Barclays decreased their target price on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Cowen reissued a "buy" rating on shares of Exact Sciences in a research report on Thursday, August 7th. Finally, Robert W. Baird upped 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.43.

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.

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