Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its position in Exact Sciences Co. (NASDAQ:EXAS) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,020,290 shares of the medical research company’s stock after selling 743,624 shares during the period. Vanguard Group Inc. owned about 0.09% of Exact Sciences worth $956,370,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EXAS. Groupama Asset Managment acquired a new position in shares of Exact Sciences during the third quarter valued at approximately $821,000. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Exact Sciences during the third quarter worth approximately $28,608,000. Iron Triangle Partners LP acquired a new position in Exact Sciences in the 3rd quarter valued at $27,239,000. Erste Asset Management GmbH purchased a new position in Exact Sciences in the 3rd quarter valued at $26,546,000. Finally, Bellevue Group AG lifted its holdings in Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after purchasing an additional 290,585 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada started coverage on shares of Exact Sciences in a report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 target price for the company. Piper Sandler dropped their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Benchmark reissued a “buy” rating and issued a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. Bank of America dropped their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Barclays cut their price target on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and nineteen have assigned 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 $70.26.

Exact Sciences Stock Down 3.0 %

Exact Sciences stock opened at $43.66 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The firm has a 50 day moving average price of $49.71 and a 200 day moving average price of $57.80. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a market capitalization of $8.11 billion, a PE ratio of -7.84 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Research analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current 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.