Teacher Retirement System of Texas Purchases New Stake in Exact Sciences Corporation (NASDAQ:EXAS)

Teacher Retirement System of Texas acquired a new stake in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 27,054 shares of the medical research company's stock, valued at approximately $1,171,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of 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 in the last quarter. Capital World Investors lifted its position in shares of Exact Sciences by 10.7% during the 4th quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock worth $985,439,000 after buying an additional 1,696,321 shares in the last quarter. Mackenzie Financial Corp raised its position in Exact Sciences by 107.7% during the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after purchasing an additional 1,513,873 shares during the last quarter. Norges Bank purchased a new position in shares of Exact Sciences in the 4th quarter worth $50,625,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of 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 valued at $239,922,000 after buying an additional 876,985 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EXAS shares. Mizuho assumed coverage on Exact Sciences in a report on Thursday, April 10th. They set an "outperform" rating and a $60.00 target price on the stock. 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 research report on Friday, May 2nd. Evercore ISI lifted their target price on Exact Sciences from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Barclays decreased their target price on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada upped their price objective on Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

Insider Transactions at Exact Sciences

In other news, Director Katherine S. Zanotti sold 3,207 shares of the company'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 completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.20% of the company's stock.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $51.91 on Monday. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of -9.42, a PEG ratio of 11.08 and a beta of 0.95. Exact Sciences Corporation has a twelve month low of $39.97 and a twelve month 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 stock has a fifty day simple moving average of $54.36 and a 200 day simple moving average of $50.97.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share 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 firm had revenue of $706.79 million during the quarter, compared to analysts' expectations of $688.58 million. During the same period in the prior year, the company earned ($0.60) EPS. The firm's revenue was up 10.9% on a year-over-year basis. Sell-side analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current 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.

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