EFG Asset Management North America Corp. Sells 3,411 Shares of Exact Sciences Co. (NASDAQ:EXAS)

EFG Asset Management North America Corp. decreased its position in Exact Sciences Co. (NASDAQ:EXAS) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,302 shares of the medical research company’s stock after selling 3,411 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Exact Sciences were worth $2,826,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in Exact Sciences during the 4th quarter worth $3,624,000. Knights of Columbus Asset Advisors LLC increased its position in Exact Sciences by 7.8% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 23,298 shares of the medical research company’s stock worth $1,309,000 after acquiring an additional 1,692 shares during the period. iA Global Asset Management Inc. raised its position in shares of Exact Sciences by 4.5% during the fourth quarter. iA Global Asset Management Inc. now owns 72,752 shares of the medical research company’s stock valued at $4,088,000 after buying an additional 3,110 shares during the last quarter. Xponance Inc. lifted its stake in shares of Exact Sciences by 10.4% in the fourth quarter. Xponance Inc. now owns 24,013 shares of the medical research company’s stock valued at $1,349,000 after buying an additional 2,264 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new stake in Exact Sciences during the fourth quarter worth about $6,774,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Trading Up 3.2 %

Shares of NASDAQ EXAS opened at $47.09 on Tuesday. 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 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average of $50.32 and a two-hundred day moving average of $58.18. The company has a market cap of $8.75 billion, a PE ratio of -8.45 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $701.45 million. As a group, equities analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Benchmark reaffirmed a “buy” rating and issued a $65.00 price target on shares of Exact Sciences in a report on Monday, January 13th. Piper Sandler reduced their target price 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. Barclays lowered their price target on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. TD Cowen raised their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada started coverage on shares of Exact Sciences in a research report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.83.

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.