Exact Sciences Co. (NASDAQ:EXAS) Stock Holdings Lifted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Exact Sciences Co. (NASDAQ:EXAS) by 215.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,815 shares of the medical research company’s stock after acquiring an additional 75,028 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Exact Sciences worth $7,481,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PDT Partners LLC acquired a new stake in Exact Sciences during the 3rd quarter worth about $3,052,000. Fred Alger Management LLC purchased a new stake in shares of Exact Sciences in the third quarter worth approximately $2,080,000. Captrust Financial Advisors boosted its holdings in shares of Exact Sciences by 24.5% during the third quarter. Captrust Financial Advisors now owns 9,433 shares of the medical research company’s stock worth $643,000 after purchasing an additional 1,854 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Exact Sciences during the third quarter valued at approximately $34,000. Finally, Soros Capital Management LLC acquired a new position in Exact Sciences in the 3rd quarter valued at approximately $3,522,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Up 0.6 %

Exact Sciences stock opened at $62.08 on Monday. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of -53.06 and a beta of 1.27. The firm has a fifty day moving average price of $63.85 and a two-hundred day moving average price of $56.03. 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 debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts forecast that Exact Sciences Co. will post -1.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EXAS. BTIG Research increased their price objective on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus cut their price target on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Robert W. Baird lowered their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Canaccord Genuity Group cut their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company started coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price for the company. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.29.

Insider Activity

In related news, CEO Kevin T. Conroy acquired 19,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Tuesday, October 8th. The shares were 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 approximately $893,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Exact Sciences 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.