Daiwa Securities Group Inc. Purchases 600 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Daiwa Securities Group Inc. lifted its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 5.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,547 shares of the medical research company’s stock after buying an additional 600 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Exact Sciences were worth $530,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Exact Sciences by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after purchasing an additional 12,349 shares in the last quarter. Thompson Investment Management Inc. grew its holdings in shares of Exact Sciences by 13.1% during the 1st quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock valued at $11,090,000 after purchasing an additional 18,595 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Exact Sciences by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock valued at $1,299,070,000 after purchasing an additional 115,058 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Exact Sciences by 4.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 1,020 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Exact Sciences by 5.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after purchasing an additional 10,356 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group began coverage on shares of Exact Sciences in a research note on Monday, June 3rd. They issued a “buy” rating and a $75.00 price objective on the stock. Scotiabank began coverage on shares of Exact Sciences in a research report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 target price on the stock. Wells Fargo & Company began coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. Finally, BTIG Research dropped their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.14.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $69.48 on Tuesday. The business has a fifty day simple moving average of $55.37 and a two-hundred day simple moving average of $55.52. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $12.82 billion, a P/E ratio of -52.64 and a beta of 1.26. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. Exact Sciences’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.45) EPS. On average, equities analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

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.