Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC lessened its position in Exact Sciences Co. (NASDAQ:EXAS) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,660 shares of the medical research company’s stock after selling 2,694 shares during the period. Marco Investment Management LLC’s holdings in Exact Sciences were worth $3,858,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Thompson Investment Management Inc. raised its position in shares of Exact Sciences by 17.8% in the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after buying an additional 36,505 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Exact Sciences by 1,153.2% in the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after buying an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. raised its position in shares of Exact Sciences by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after buying an additional 11,800 shares during the last quarter. Zacks Investment Management acquired a new position in shares of Exact Sciences in the third quarter valued at approximately $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Exact Sciences by 59.5% in the third 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 buying an additional 125,192 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

EXAS has been the subject of a number of recent analyst reports. Bank of America lowered their target price on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Piper Sandler lowered their target price on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. BTIG Research boosted their target price on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Scotiabank boosted their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Finally, William Blair restated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. One research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.94.

Exact Sciences Price Performance

EXAS opened at $46.64 on Friday. The company has a fifty day simple moving average of $53.31 and a 200 day simple moving average of $59.52. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of -8.37 and a beta of 1.24. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month 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.

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