DekaBank Deutsche Girozentrale Decreases Holdings in Exact Sciences Co. (NASDAQ:EXAS)

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,136 shares of the medical research company’s stock after selling 2,787 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Exact Sciences were worth $3,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Exact Sciences by 172.0% during the 3rd quarter. AQR Capital Management LLC now owns 328,317 shares of the medical research company’s stock worth $22,398,000 after buying an additional 207,623 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Exact Sciences by 1.6% in the 3rd quarter. Nordea Investment Management AB now owns 18,858 shares of the medical research company’s stock valued at $1,310,000 after purchasing an additional 293 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Exact Sciences by 11.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock valued at $270,254,000 after purchasing an additional 418,770 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Exact Sciences by 103.6% in the 3rd quarter. New York Life Investment Management LLC now owns 20,092 shares of the medical research company’s stock valued at $1,371,000 after purchasing an additional 10,223 shares during the last quarter. Finally, Aviva PLC lifted its holdings in shares of Exact Sciences by 383.0% in the 3rd quarter. Aviva PLC now owns 107,054 shares of the medical research company’s stock valued at $7,303,000 after purchasing an additional 84,888 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Sarah Condella sold 965 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $59,279.95. Following the sale, the executive vice president now owns 70,489 shares in the company, valued at approximately $4,330,139.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Sarah Condella sold 965 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $59,279.95. Following the sale, the executive vice president now owns 70,489 shares in the company, valued at approximately $4,330,139.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin T. Conroy sold 14,791 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $908,611.13. Following the completion of the sale, the chief executive officer now owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The disclosure for this sale can be found here. Insiders have sold a total of 69,113 shares of company stock worth $4,165,273 in the last quarter. Company insiders own 1.30% of the company’s stock.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $71.34 on Friday. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $63.28 and its two-hundred day moving average is $65.21. Exact Sciences Co. has a 12-month low of $56.05 and a 12-month high of $100.77. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of -62.58 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company had revenue of $646.89 million for the quarter, compared to analysts’ expectations of $638.83 million. During the same quarter in the previous year, the firm posted ($0.72) EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Research analysts expect that Exact Sciences Co. will post -0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

EXAS has been the subject of several research reports. Citigroup reissued a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a report on Wednesday, April 3rd. TheStreet downgraded Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. Benchmark raised Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Tuesday, January 2nd. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Finally, Canaccord Genuity Group dropped their price target on Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.44.

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.