Zevenbergen Capital Investments LLC Has $30.75 Million Stock Position in Exact Sciences Corporation $EXAS

Key Points

• Zevenbergen Capital Investments LLC cut its position in Exact Sciences by 68.7% in Q4, selling 663,494 shares and retaining 302,777 shares valued at $30.75 million (about 0.16% of the company).
• Exact Sciences missed on EPS with - $0.21 for the quarter (vs. $0.08 expected) but reported revenue of $878.38 million, up 23.1% YoY and slightly above estimates.
• Analysts are largely cautious: the consensus rating is "Reduce" with an average price target of $92.13, while the company has a market cap of about $20.03 billion and shares trading near a one-year high (~$105).

Zevenbergen Capital Investments LLC lowered its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 68.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 302,777 shares of the medical research company's stock after selling 663,494 shares during the period. Zevenbergen Capital Investments LLC owned 0.16% of Exact Sciences worth $30,750,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of EXAS. Westside Investment Management Inc. grew its stake in shares of Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company's stock valued at $31,000 after buying an additional 271 shares during the period. Quent Capital LLC bought a new position in Exact Sciences in the third quarter worth approximately $48,000. Bollard Group LLC acquired a new stake in Exact Sciences in the third quarter valued at approximately $55,000. OFI Invest Asset Management increased its holdings in shares of Exact Sciences by 241.2% during the third quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company's stock valued at $59,000 after acquiring an additional 767 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Exact Sciences by 463.0% during the second quarter. China Universal Asset Management Co. Ltd. now owns 1,216 shares of the medical research company's stock worth $65,000 after purchasing an additional 1,000 shares during the period. 88.82% of the stock is owned by institutional investors.

Exact Sciences Price Performance

EXAS opened at $104.91 on Tuesday. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $104.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of -95.37, a P/E/G ratio of 2.02 and a beta of 1.41. The firm's fifty day moving average price is $103.37 and its two-hundred day moving average price is $88.25.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.29). The business had revenue of $878.38 million during the quarter, compared to analysts' expectations of $860.59 million. Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.Exact Sciences's quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. As a group, analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on EXAS. Mizuho reissued a "neutral" rating and issued a $105.00 price target (up from $85.00) on shares of Exact Sciences in a research report on Tuesday, January 20th. Zacks Research lowered shares of Exact Sciences from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Exact Sciences in a report on Thursday, January 22nd. Evercore set a $105.00 target price on shares of Exact Sciences and gave the stock an "in-line" rating in a report on Monday, January 5th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Exact Sciences in a research report on Tuesday, March 24th. Twenty-one equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $92.13.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company's flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.

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