Nikko Asset Management Americas Inc. Sells 204,394 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Nikko Asset Management Americas Inc. lowered its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,758,853 shares of the medical research company's stock after selling 204,394 shares during the quarter. Exact Sciences comprises 1.3% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 21st largest holding. Nikko Asset Management Americas Inc. owned approximately 0.97% of Exact Sciences worth $130,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Artisan Partners Limited Partnership grew its position in shares of Exact Sciences by 11.8% in the third quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company's stock valued at $270,254,000 after purchasing an additional 418,770 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Exact Sciences by 11.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,858,380 shares of the medical research company's stock valued at $137,483,000 after buying an additional 192,372 shares during the period. Jennison Associates LLC lifted its holdings in shares of Exact Sciences by 94.0% in the fourth quarter. Jennison Associates LLC now owns 1,360,917 shares of the medical research company's stock worth $100,681,000 after buying an additional 659,235 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Exact Sciences by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,167,909 shares of the medical research company's stock valued at $86,402,000 after acquiring an additional 30,831 shares during the period. Finally, Northern Trust Corp grew its stake in Exact Sciences by 5.4% during the third quarter. Northern Trust Corp now owns 1,128,376 shares of the medical research company's stock valued at $76,978,000 after acquiring an additional 57,423 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on EXAS shares. BTIG Research lowered their price target on Exact Sciences from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, May 9th. Canaccord Genuity Group dropped their target price on shares of Exact Sciences from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, May 9th. William Blair restated an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 22nd. Citigroup dropped their price objective on shares of Exact Sciences from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 9th. Finally, TheStreet downgraded Exact Sciences from a "c-" rating to a "d+" rating in a research report on Monday, February 26th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $95.40.

Exact Sciences Trading Down 3.0 %

Shares of Exact Sciences stock traded down $1.57 during trading on Friday, reaching $50.38. 2,452,495 shares of the stock were exchanged, compared to its average volume of 2,443,642. The company has a quick ratio of 1.45, a current ratio of 1.64 and a debt-to-equity ratio of 0.66. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of -38.44 and a beta of 1.26. Exact Sciences Co. has a 1 year low of $50.35 and a 1 year high of $100.77. The stock's fifty day moving average is $63.05 and its 200 day moving average is $64.27.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.26. The business had revenue of $646.89 million during the quarter, compared to analysts' expectations of $638.83 million. Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. The business's revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.72) EPS. As a group, equities research analysts expect that Exact Sciences Co. will post -1.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy sold 4,975 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $61.50, for a total value of $305,962.50. Following the completion of the sale, the chief executive officer now directly owns 1,229,756 shares in the company, valued at $75,629,994. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Kevin T. Conroy sold 1,155 shares of the business's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total transaction of $69,473.25. Following the sale, the chief executive officer now owns 1,156,191 shares of the company's stock, valued at $69,544,888.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin T. Conroy sold 4,975 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $61.50, for a total transaction of $305,962.50. Following the transaction, the chief executive officer now directly owns 1,229,756 shares of the company's stock, valued at approximately $75,629,994. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,204 shares of company stock valued at $3,001,775. 1.30% of the stock is currently owned by company insiders.

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.

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