Primecap Management Co. CA Has $20.97 Million Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Primecap Management Co. CA grew its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 3.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 496,300 shares of the medical research company’s stock after acquiring an additional 17,000 shares during the period. Primecap Management Co. CA’s holdings in Exact Sciences were worth $20,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXAS. Benjamin F. Edwards & Company Inc. lifted its holdings in Exact Sciences by 65.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares during the last quarter. Able Wealth Management LLC acquired a new stake in shares of Exact Sciences during the 4th quarter worth about $45,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares during the period. Fortitude Family Office LLC acquired a new position in Exact Sciences in the 1st quarter valued at about $55,000. Finally, Quest Partners LLC bought a new position in Exact Sciences in the 4th quarter valued at about $66,000. 88.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. BTIG Research reduced their price objective on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Evercore ISI decreased their price objective on Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Benchmark decreased their price target on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Scotiabank assumed coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $78.14.

Exact Sciences Trading Up 1.8 %

Shares of EXAS opened at $69.21 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of -52.43 and a beta of 1.26. The business’s fifty day moving average is $55.85 and its 200-day moving average is $55.58.

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