New York State Common Retirement Fund Reduces Holdings in Exact Sciences Corporation (NASDAQ:EXAS)

New York State Common Retirement Fund cut its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 55.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,729 shares of the medical research company's stock after selling 117,433 shares during the quarter. New York State Common Retirement Fund's holdings in Exact Sciences were worth $4,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its holdings in Exact Sciences by 0.3% in the first quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock worth $4,367,000 after acquiring an additional 270 shares in the last quarter. Allworth Financial LP boosted its holdings in Exact Sciences by 14.3% in the first quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock worth $136,000 after acquiring an additional 373 shares in the last quarter. Integrated Advisors Network LLC boosted its holdings in Exact Sciences by 5.7% in the first quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock worth $305,000 after acquiring an additional 379 shares in the last quarter. Curi RMB Capital LLC boosted its holdings in Exact Sciences by 1.7% in the fourth quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company's stock worth $1,399,000 after acquiring an additional 428 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Exact Sciences by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 80,216 shares of the medical research company's stock worth $4,507,000 after acquiring an additional 500 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EXAS shares. Robert W. Baird boosted their target price on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Guggenheim reaffirmed a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Royal Bank Of Canada upped 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. Barclays lowered their price target on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Tuesday, June 24th. Finally, Evercore ISI upped 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. 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 has an average rating of "Moderate Buy" and a consensus target price of $70.50.

Insiders Place Their Bets

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the firm's stock in a transaction on Friday, June 13th. The stock was 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. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Exact Sciences Stock Down 0.6%

Exact Sciences stock traded down $0.28 during midday trading on Friday, reaching $48.49. The company's stock had a trading volume of 1,240,554 shares, compared to its average volume of 2,527,816. Exact Sciences Corporation has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The company has a quick ratio of 2.38, a current ratio of 2.73 and a debt-to-equity ratio of 0.97. The company has a market cap of $9.15 billion, a P/E ratio of -8.80, a P/E/G ratio of 10.41 and a beta of 0.95. The business has a 50-day simple moving average of $53.71 and a 200-day simple moving average of $50.63.

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