Exact Sciences Co. (NASDAQ:EXAS) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its stake in Exact Sciences Co. (NASDAQ:EXAS) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,081 shares of the medical research company’s stock after purchasing an additional 3,674 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Exact Sciences were worth $1,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Exact Sciences by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after buying an additional 180,341 shares during the last quarter. Capital World Investors lifted its position in shares of Exact Sciences by 74.4% in the first 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 in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences in the second quarter worth approximately $163,896,000. Champlain Investment Partners LLC increased its position in shares of Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after purchasing an additional 1,438,010 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC raised its stake in Exact Sciences by 20.5% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 1,361,415 shares of the medical research company’s stock valued at $94,019,000 after purchasing an additional 231,591 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of EXAS opened at $68.73 on Wednesday. The firm has a 50-day simple moving average of $58.16 and a two-hundred day simple moving average of $55.95. The stock has a market cap of $12.68 billion, a PE ratio of -52.07 and a beta of 1.26. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98.

Exact Sciences (NASDAQ:EXAS) last posted its 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 last year, the firm earned ($0.45) EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, analysts forecast that Exact Sciences Co. will post -0.87 EPS for the current year.

Insider Activity at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 13,687 shares in the company, valued at approximately $958,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

EXAS has been the topic of several recent research reports. Wells Fargo & Company started coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. Benchmark dropped their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of Exact Sciences in a research note on Monday, June 3rd. They issued a “buy” rating and a $75.00 target price on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $75.00 price target on shares of Exact Sciences in a research report on Friday, September 13th. Finally, The Goldman Sachs Group reduced their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.