900,961 Shares in Exact Sciences Co. (NASDAQ:EXAS) Acquired by Norges Bank

Norges Bank acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 900,961 shares of the medical research company's stock, valued at approximately $50,625,000. Norges Bank owned about 0.49% of Exact Sciences at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EXAS. Captrust Financial Advisors grew its position in Exact Sciences by 24.5% during the 3rd quarter. Captrust Financial Advisors now owns 9,433 shares of the medical research company's stock worth $643,000 after acquiring an additional 1,854 shares during the last quarter. Investment Management Corp of Ontario bought a new stake in Exact Sciences in the 3rd quarter worth $417,000. IHT Wealth Management LLC purchased a new position in shares of Exact Sciences in the third quarter valued at about $305,000. Quantinno Capital Management LP purchased a new position in Exact Sciences during the 3rd quarter valued at about $223,000. Finally, Stifel Financial Corp raised its position in Exact Sciences by 2.3% during the 3rd quarter. Stifel Financial Corp now owns 80,961 shares of the medical research company's stock valued at $5,515,000 after purchasing an additional 1,825 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. William Blair reiterated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th. Piper Sandler reduced their target price on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Barclays dropped their price objective on shares of Exact Sciences from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Scotiabank lifted their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a report on Monday, February 24th. Finally, Bank of America dropped their price target on Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.26.

Exact Sciences Stock Performance

Shares of NASDAQ EXAS traded up $5.19 during midday trading on Wednesday, hitting $45.50. 5,153,060 shares of the stock traded hands, compared to its average volume of 2,614,159. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. Exact Sciences Co. has a one year low of $39.90 and a one year high of $73.81. The firm has a market capitalization of $8.45 billion, a P/E ratio of -8.17 and a beta of 1.14. The firm has a 50-day moving average of $47.38 and a two-hundred day moving average of $56.14.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced 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 return on equity of 5.29% and a negative net margin of 37.29%. The business had revenue of $713.42 million for the quarter, compared to analysts' expectations of $701.45 million. On average, equities analysts forecast that Exact Sciences Co. will post -0.58 EPS for the current fiscal 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.