Exact Sciences Corporation $EXAS Shares Acquired 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 raised its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 120.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,128,958 shares of the medical research company's stock after buying an additional 1,707,287 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.66% of Exact Sciences worth $135,453,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EXAS. Mackenzie Financial Corp lifted its position in shares of 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 worth $164,037,000 after purchasing an additional 1,513,873 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Exact Sciences during the 1st quarter worth $45,334,000. Price T Rowe Associates Inc. MD lifted its position in shares of Exact Sciences by 11.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company's stock worth $277,225,000 after purchasing an additional 643,631 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Exact Sciences by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company's stock worth $763,535,000 after purchasing an additional 617,384 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in Exact Sciences during the 1st quarter worth $20,803,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Performance

Shares of Exact Sciences stock traded down $0.49 on Tuesday, reaching $52.94. 2,116,068 shares of the stock were exchanged, compared to its average volume of 2,802,797. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $72.83. 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 has a fifty day moving average price of $48.88 and a two-hundred day moving average price of $49.34. The firm has a market capitalization of $10.02 billion, a PE ratio of -9.75, a PEG ratio of 4.98 and a beta of 1.05.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share 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 company had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. During the same period in the prior year, the business posted ($0.09) earnings per share. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total transaction of $62,399.70. Following the transaction, the director directly owned 59,962 shares in the company, valued at approximately $2,519,603.24. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

EXAS has been the subject of a number of research reports. Zacks Research cut shares of Exact Sciences from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Cowen reissued a "buy" rating on shares of Exact Sciences in a research report on Thursday, August 7th. Wall Street Zen raised shares of Exact Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Craig Hallum boosted their price target on shares of Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Finally, Royal Bank Of Canada reduced their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $68.05.

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.