E Fund Management Co. Ltd. Purchases 19,661 Shares of Exact Sciences Co. (NASDAQ:EXAS)

E Fund Management Co. Ltd. increased its position in Exact Sciences Co. (NASDAQ:EXAS) by 272.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,879 shares of the medical research company’s stock after buying an additional 19,661 shares during the period. E Fund Management Co. Ltd.’s holdings in Exact Sciences were worth $1,136,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Exact Sciences by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock valued at $1,225,131,000 after purchasing an additional 180,341 shares during the last quarter. Capital World Investors lifted its holdings in shares of Exact Sciences by 74.4% in the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after acquiring an additional 5,557,168 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Exact Sciences by 12.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock valued at $330,711,000 after acquiring an additional 508,764 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Exact Sciences in the 2nd quarter valued at about $163,896,000. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Exact Sciences by 175.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after acquiring an additional 1,438,010 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

EXAS has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Stifel Nicolaus lowered their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Benchmark lowered their price target on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Scotiabank initiated coverage on shares of Exact Sciences in a report on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 price target for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $75.00 price objective on shares of Exact Sciences in a research note on Friday, September 13th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $78.14.

Exact Sciences Stock Performance

Exact Sciences stock opened at $69.21 on Thursday. The company has a 50 day moving average price of $55.85 and a 200-day moving average price of $55.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. 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 market capitalization of $12.77 billion, a PE ratio of -52.43 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share 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 firm had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current 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.