Polar Asset Management Partners Inc. Grows Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Polar Asset Management Partners Inc. increased its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 20.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,997 shares of the medical research company's stock after buying an additional 13,697 shares during the period. Polar Asset Management Partners Inc.'s holdings in Exact Sciences were worth $4,607,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Capital World Investors grew its holdings in Exact Sciences by 10.7% in the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock worth $985,439,000 after purchasing an additional 1,696,321 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Exact Sciences by 74.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock worth $323,669,000 after purchasing an additional 2,462,165 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Exact Sciences by 25.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock worth $239,922,000 after purchasing an additional 876,985 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Exact Sciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company's stock worth $175,165,000 after purchasing an additional 16,828 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Exact Sciences by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company's stock worth $74,785,000 after acquiring an additional 38,849 shares during the period. Institutional investors own 88.82% of the company's stock.

Exact Sciences Price Performance

NASDAQ:EXAS traded down $0.53 during mid-day trading on Wednesday, hitting $57.28. 878,845 shares of the stock traded hands, compared to its average volume of 2,584,364. The business's 50-day moving average price is $46.88 and its 200 day moving average price is $52.03. The company has a market cap of $10.81 billion, a PE ratio of -10.29 and a beta of 0.92. Exact Sciences Co. has a 12-month low of $39.97 and a 12-month high of $72.83. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America lowered their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Piper Sandler lowered their price target 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. Evercore ISI boosted their price target on shares of Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Mizuho initiated coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $70.90.

Exact Sciences 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.