Exact Sciences Co. (NASDAQ:EXAS) Stake Lessened by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 22.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,710 shares of the medical research company’s stock after selling 3,681 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Exact Sciences were worth $714,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in shares of Exact Sciences by 193.8% in the 3rd quarter. Cerity Partners LLC now owns 16,329 shares of the medical research company’s stock worth $1,112,000 after buying an additional 10,772 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Exact Sciences by 35.7% in the third quarter. The Manufacturers Life Insurance Company now owns 136,592 shares of the medical research company’s stock worth $9,305,000 after acquiring an additional 35,927 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Exact Sciences by 24.5% in the 3rd quarter. Captrust Financial Advisors now owns 9,433 shares of the medical research company’s stock valued at $643,000 after acquiring an additional 1,854 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of Exact Sciences during the 3rd quarter valued at about $2,080,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Exact Sciences by 215.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,815 shares of the medical research company’s stock worth $7,481,000 after purchasing an additional 75,028 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on EXAS shares. Scotiabank upped their price target on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Bank of America cut their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Piper Sandler decreased their price target on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Benchmark restated a “buy” rating and set a $65.00 price objective on shares of Exact Sciences in a report on Monday, January 13th. Finally, Barclays reduced their price objective on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.26.

Exact Sciences Stock Performance

Shares of NASDAQ EXAS opened at $43.66 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The business’s 50-day moving average price is $49.71 and its two-hundred day moving average price is $57.75. The company has a market capitalization of $8.11 billion, a P/E ratio of -7.84 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.23. The business had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

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.