Northwest & Ethical Investments L.P. Sells 1,357 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Northwest & Ethical Investments L.P. trimmed its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,513 shares of the medical research company’s stock after selling 1,357 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Exact Sciences were worth $1,546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Exact Sciences by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after purchasing an additional 7,873 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Exact Sciences by 10.9% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after acquiring an additional 245,980 shares during the last quarter. Bellevue Group AG boosted its position in shares of Exact Sciences by 25.1% during the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after acquiring an additional 290,585 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Exact Sciences by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company’s stock valued at $74,785,000 after acquiring an additional 38,849 shares during the last quarter. Finally, Groupama Asset Managment bought a new position in shares of Exact Sciences during the 3rd quarter valued at approximately $821,000. 88.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EXAS. Piper Sandler lowered 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 decreased their price target on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Bank of America decreased their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. BTIG Research increased their price target on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada initiated coverage on Exact Sciences in a report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price target on the stock. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.83.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $45.62 on Friday. The firm has a market cap of $8.47 billion, a P/E ratio of -8.19 and a beta of 1.25. 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 Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The stock’s fifty day moving average price is $50.55 and its 200-day moving average price is $58.28.

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 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%. On average, equities research analysts expect 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.