Andra AP fonden Sells 54,000 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Andra AP fonden lessened its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 39.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,800 shares of the medical research company’s stock after selling 54,000 shares during the quarter. Andra AP fonden’s holdings in Exact Sciences were worth $3,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of EXAS. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Exact Sciences by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after buying an additional 12,349 shares during the period. Thompson Investment Management Inc. lifted its stake in Exact Sciences by 13.1% in the first quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock worth $11,090,000 after acquiring an additional 18,595 shares during the period. Vanguard Group Inc. grew its holdings in Exact Sciences by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock worth $1,299,070,000 after acquiring an additional 115,058 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Exact Sciences by 4.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 1,020 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in Exact Sciences by 5.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after purchasing an additional 10,356 shares during the period. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Trading Up 9.8 %

Exact Sciences stock opened at $64.12 on Thursday. The stock has a 50-day moving average price of $53.99 and a 200 day moving average price of $55.31. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of -48.58 and a beta of 1.25. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $80.56. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.28. The company had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.45) EPS. Sell-side analysts anticipate that Exact Sciences Co. will post -0.87 EPS for the current year.

Analyst Ratings Changes

EXAS has been the topic of a number of recent research reports. Scotiabank started coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price objective on the stock. Evercore ISI dropped their target price on Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Benchmark reduced their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company assumed coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Exact Sciences in a report on Monday, June 3rd. They issued a “buy” rating and a $75.00 target price for the company. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $78.50.

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.