New York Life Investment Management LLC Sells 1,867 Shares of Exact Sciences Co. (NASDAQ:EXAS)

New York Life Investment Management LLC trimmed its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 8.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,362 shares of the medical research company’s stock after selling 1,867 shares during the quarter. New York Life Investment Management LLC’s holdings in Exact Sciences were worth $1,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. boosted its stake in Exact Sciences by 17.8% in the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock worth $13,585,000 after purchasing an additional 36,505 shares during the period. WCM Investment Management LLC boosted its position in shares of Exact Sciences by 1,153.2% during the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after acquiring an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. boosted its position in shares of Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after acquiring an additional 11,800 shares during the last quarter. Zacks Investment Management bought a new position in shares of Exact Sciences during the 3rd quarter valued at approximately $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Exact Sciences by 59.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock valued at $22,868,000 after acquiring an additional 125,192 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Price Performance

Shares of EXAS stock opened at $47.55 on Tuesday. The stock’s 50-day simple moving average is $53.71 and its 200-day simple moving average is $59.67. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of -8.54 and a beta of 1.24. 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 0.97, a quick ratio of 1.93 and a current ratio of 2.15.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results 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. The firm had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. As a group, equities analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Craig Hallum lowered their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Bank of America lowered their target price 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. Robert W. Baird lowered their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. BTIG Research increased their target price on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Citigroup lowered their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $71.94.

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.