Meridiem Capital Partners LP Invests $11.36 Million in Exact Sciences Co. (NASDAQ:EXAS)

Meridiem Capital Partners LP acquired a new position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 202,139 shares of the medical research company's stock, valued at approximately $11,358,000. Meridiem Capital Partners LP owned about 0.11% of Exact Sciences at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new stake in Exact Sciences during the fourth quarter worth about $40,000. AlphaQuest LLC raised its position in shares of Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after purchasing an additional 913 shares during the period. SBI Securities Co. Ltd. bought a new stake in Exact Sciences in the fourth quarter valued at $66,000. Ostrum Asset Management grew its position in shares of Exact Sciences by 28.4% during the fourth quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock worth $134,000 after acquiring an additional 527 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new position in shares of Exact Sciences during the fourth quarter worth about $188,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on EXAS. Mizuho assumed coverage on Exact Sciences in a report on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target on the stock. Guggenheim reissued a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Robert W. Baird upped their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. William Blair reissued an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Finally, Evercore ISI boosted their price target on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Two equities 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.90.

Exact Sciences Stock Performance

EXAS stock traded up $0.25 during midday trading on Friday, hitting $56.42. The stock had a trading volume of 3,197,591 shares, compared to its average volume of 2,606,379. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of -10.13 and a beta of 0.92. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The stock has a 50-day simple moving average of $46.16 and a 200 day simple moving average of $52.41. Exact Sciences Co. has a 52 week low of $39.97 and a 52 week high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.16. The business had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.60) EPS. As a group, equities research analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current year.

About Exact Sciences

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.