Exact Sciences Co. (NASDAQ:EXAS) Stake Trimmed by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,839 shares of the medical research company’s stock after selling 258 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Exact Sciences were worth $1,246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fulton Bank N.A. lifted its position in shares of Exact Sciences by 7.4% in the 4th quarter. Fulton Bank N.A. now owns 5,731 shares of the medical research company’s stock valued at $424,000 after acquiring an additional 396 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Exact Sciences during the fourth quarter valued at $138,690,000. KRS Capital Management LLC acquired a new position in Exact Sciences during the fourth quarter valued at $277,000. Arizona State Retirement System lifted its stake in Exact Sciences by 0.9% in the 4th quarter. Arizona State Retirement System now owns 49,655 shares of the medical research company’s stock worth $3,673,000 after acquiring an additional 442 shares in the last quarter. Finally, Patten & Patten Inc. TN boosted its position in Exact Sciences by 12.6% during the 4th quarter. Patten & Patten Inc. TN now owns 20,165 shares of the medical research company’s stock worth $1,492,000 after acquiring an additional 2,261 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXAS. TheStreet downgraded Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. William Blair restated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Citigroup reiterated a “buy” rating and set a $100.00 price objective on shares of Exact Sciences in a report on Wednesday, April 3rd. Canaccord Genuity Group lowered their target price on Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Finally, Benchmark raised Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $97.44.

Insider Activity

In related news, CEO Kevin T. Conroy sold 14,791 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $908,611.13. Following the completion of the transaction, the chief executive officer now directly owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel James Herriott sold 415 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $61.50, for a total transaction of $25,522.50. Following the sale, the general counsel now directly owns 6,943 shares in the company, valued at $426,994.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin T. Conroy sold 14,791 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,224,357 shares of the company’s stock, valued at $75,212,250.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,113 shares of company stock valued at $4,165,273. 1.30% of the stock is owned by company insiders.

Exact Sciences Price Performance

NASDAQ EXAS opened at $62.41 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. Exact Sciences Co. has a 1 year low of $56.05 and a 1 year high of $100.77. The company has a fifty day simple moving average of $63.42 and a 200 day simple moving average of $65.04. The company has a market cap of $11.33 billion, a P/E ratio of -54.75 and a beta of 1.25.

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

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.