Legal & General Group Plc Sells 280,642 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Legal & General Group Plc lessened its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 461,608 shares of the medical research company's stock after selling 280,642 shares during the period. Legal & General Group Plc owned approximately 0.25% of Exact Sciences worth $25,938,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Invesco Ltd. increased its position in Exact Sciences by 57.2% during the 4th quarter. Invesco Ltd. now owns 379,683 shares of the medical research company's stock worth $21,334,000 after purchasing an additional 138,089 shares in the last quarter. Cerity Partners LLC raised its holdings in Exact Sciences by 65.9% during the 4th quarter. Cerity Partners LLC now owns 27,090 shares of the medical research company's stock worth $1,541,000 after purchasing an additional 10,761 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co acquired a new position in Exact Sciences in the fourth quarter valued at $4,158,000. Aviva PLC bought a new stake in shares of Exact Sciences during the 4th quarter valued at about $5,824,000. Finally, Rhenman & Partners Asset Management AB boosted its holdings in shares of Exact Sciences by 1.3% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 471,000 shares of the medical research company's stock worth $26,465,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Guggenheim reaffirmed a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a research note on Friday, April 11th. Bank of America reduced their price objective on Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Piper Sandler lowered their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada assumed coverage on shares of Exact Sciences in a research report on Thursday, March 13th. They issued a "sector perform" rating and a $52.00 price target for the company. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.25.

Exact Sciences Trading Down 1.6 %

EXAS traded down $0.68 on Friday, hitting $41.58. 3,157,616 shares of the company were exchanged, compared to its average volume of 2,599,955. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The firm has a fifty day simple moving average of $46.06 and a two-hundred day simple moving average of $55.21. The stock has a market capitalization of $7.72 billion, a PE ratio of -7.46 and a beta of 1.14. Exact Sciences Co. has a 12 month low of $39.97 and a 12 month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $713.42 million for the quarter, compared to analysts' expectations of $701.45 million. Sell-side analysts expect that Exact Sciences Co. will post -0.58 earnings per share 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.