Livforsakringsbolaget Skandia Omsesidigt Has $109,000 Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 700.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,600 shares of the medical research company’s stock after purchasing an additional 1,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Exact Sciences were worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors raised its position in shares of Exact Sciences by 74.4% in the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after acquiring an additional 5,557,168 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences in the 2nd quarter valued at approximately $163,896,000. Champlain Investment Partners LLC raised its position in shares of Exact Sciences by 175.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after acquiring an additional 1,438,010 shares during the period. Sculptor Capital LP acquired a new stake in shares of Exact Sciences in the 2nd quarter valued at approximately $32,819,000. Finally, Samlyn Capital LLC acquired a new stake in shares of Exact Sciences in the 2nd quarter valued at approximately $30,426,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares of the company’s stock, valued at $893,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Piper Sandler increased their target price on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. The Goldman Sachs Group lowered their target price on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. BTIG Research lowered their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, Scotiabank started coverage on Exact Sciences in a research note on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.38.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $69.95 on Wednesday. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $63.75 and a 200 day simple moving average of $56.56. The stock has a market capitalization of $12.91 billion, a PE ratio of -52.99 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share 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 analysts’ expectations of $690.02 million. During the same period last year, the business earned ($0.45) earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. On average, research analysts expect 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.