DekaBank Deutsche Girozentrale Acquires 1,775 Shares of Exact Sciences Co. (NASDAQ:EXAS)

DekaBank Deutsche Girozentrale boosted its position in Exact Sciences Co. (NASDAQ:EXAS) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,891 shares of the medical research company’s stock after buying an additional 1,775 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Exact Sciences were worth $2,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital World Investors boosted its stake in Exact Sciences by 74.4% during 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 purchasing an additional 5,557,168 shares during the last quarter. Norges Bank acquired a new position in Exact Sciences during the 4th quarter valued at about $120,308,000. Champlain Investment Partners LLC boosted its stake in Exact Sciences by 175.3% during 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 purchasing an additional 1,438,010 shares during the last quarter. Iron Triangle Partners LP purchased a new position in shares of Exact Sciences in the 1st quarter worth approximately $48,342,000. Finally, Artisan Partners Limited Partnership boosted its stake 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 worth $330,711,000 after buying an additional 508,764 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Price Performance

Exact Sciences stock opened at $69.21 on Thursday. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. 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 business’s 50 day simple moving average is $55.85 and its 200 day simple moving average is $55.58. The company has a market cap of $12.77 billion, a price-to-earnings ratio of -52.43 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $699.26 million for the quarter, compared to analysts’ expectations of $690.02 million. During the same quarter in the previous year, the firm posted ($0.45) EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Sell-side analysts forecast that Exact Sciences Co. will post -0.87 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EXAS shares. The Goldman Sachs Group cut their target price on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Benchmark cut their target price on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Canaccord Genuity Group restated a “buy” rating and issued a $75.00 target price on shares of Exact Sciences in a research note on Friday, September 13th. Stifel Nicolaus cut their target price on Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, BTIG Research cut 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. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.14.

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.