Victory Capital Management Inc. Has $2.47 Million Position in Exact Sciences Co. (NASDAQ:EXAS)

Victory Capital Management Inc. cut its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 22.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,420 shares of the medical research company’s stock after selling 17,321 shares during the period. Victory Capital Management Inc.’s holdings in Exact Sciences were worth $2,468,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asahi Life Asset Management CO. LTD. increased its position in Exact Sciences by 4.2% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock worth $325,000 after buying an additional 175 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Exact Sciences by 2.1% during the 1st quarter. Perigon Wealth Management LLC now owns 8,516 shares of the medical research company’s stock worth $588,000 after acquiring an additional 175 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Exact Sciences by 65.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 179 shares during the period. Sanders Morris Harris LLC lifted its holdings in Exact Sciences by 4.2% during the 1st quarter. Sanders Morris Harris LLC now owns 5,000 shares of the medical research company’s stock valued at $345,000 after purchasing an additional 200 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Exact Sciences by 1.7% during the first quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after purchasing an additional 200 shares during the period. 88.82% of the stock is owned by institutional investors.

Exact Sciences Stock Performance

Exact Sciences stock opened at $67.99 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The stock has a market cap of $12.55 billion, a PE ratio of -51.51 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. The business’s 50-day moving average price is $55.37 and its two-hundred day moving average price is $55.52.

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

Analysts Set New Price Targets

A number of research analysts recently commented on EXAS shares. Piper Sandler increased their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. BTIG Research lowered their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. The Goldman Sachs Group reduced their price target on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Canaccord Genuity Group reiterated a “buy” rating and set a $75.00 price objective on shares of Exact Sciences in a research report on Friday, September 13th. Finally, Scotiabank started coverage on shares of Exact Sciences in a research report on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.14.

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.