Exact Sciences Corporation $EXAS Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management significantly increased its stake in Exact Sciences Corporation by 120.1% during Q1, owning a total of 3,128,958 shares worth approximately $135.45 million.
• Multiple institutional investors, including Larson Financial Group and National Pension Service, have also increased their holdings in Exact Sciences, with hedge funds and institutions owning about 88.82% of the company's stock.
• Exact Sciences reported earnings of $0.22 per share for the last quarter, surpassing expectations, and experienced a 16.0% year-over-year revenue growth to $811.09 million.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 120.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,128,958 shares of the medical research company's stock after purchasing an additional 1,707,287 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.66% of Exact Sciences worth $135,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of EXAS. Larson Financial Group LLC grew its holdings in shares of 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 purchasing an additional 589 shares during the last quarter. National Pension Service raised its position in shares of Exact Sciences by 75.1% in the 1st quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after purchasing an additional 292 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Exact Sciences in the 1st quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Exact Sciences in the 1st quarter worth about $34,000. Finally, Banque Cantonale Vaudoise purchased a new position in Exact Sciences in the 1st quarter worth about $34,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Craig Hallum boosted their price target on Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Royal Bank Of Canada decreased their price objective on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Piper Sandler decreased their price target on Exact Sciences from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, August 11th. UBS Group reduced their target price on Exact Sciences from $61.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Finally, BTIG Research dropped their price target on Exact Sciences from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Exact Sciences has a consensus rating of "Moderate Buy" and an average target price of $68.05.

Insider Activity

In related news, Director James Edward Doyle sold 1,485 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total transaction of $62,399.70. Following the completion of the transaction, the director directly owned 59,962 shares of the company's stock, valued at $2,519,603.24. The trade was a 2.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Exact Sciences Price Performance

EXAS traded up $0.93 during trading on Thursday, hitting $53.31. The company's stock had a trading volume of 712,449 shares, compared to its average volume of 2,787,755. 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 business's fifty day simple moving average is $48.81 and its 200 day simple moving average is $49.38. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of -9.82, a P/E/G ratio of 4.89 and a beta of 1.05. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.24. The firm had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The business's revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) earnings per share. On average, equities research analysts forecast that Exact Sciences Corporation will post -0.58 EPS 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.