Exact Sciences Co. (NASDAQ:EXAS) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. raised its position in Exact Sciences Co. (NASDAQ:EXAS) by 49.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 42,979 shares of the medical research company’s stock after purchasing an additional 14,188 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Exact Sciences were worth $1,816,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Truist Financial Corp increased its holdings in Exact Sciences by 4.9% during the 4th quarter. Truist Financial Corp now owns 19,304 shares of the medical research company’s stock valued at $1,428,000 after acquiring an additional 908 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Exact Sciences by 5.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 5,216 shares of the medical research company’s stock worth $386,000 after purchasing an additional 264 shares during the last quarter. New York Life Investment Management LLC lifted its stake in Exact Sciences by 5.0% in the 4th quarter. New York Life Investment Management LLC now owns 21,106 shares of the medical research company’s stock valued at $1,561,000 after buying an additional 1,014 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Exact Sciences during the 4th quarter valued at $1,342,000. Finally, Merit Financial Group LLC acquired a new position in shares of Exact Sciences in the fourth quarter worth $232,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $61.69 on Tuesday. The business’s 50-day simple moving average is $51.64 and its 200-day simple moving average is $55.33. The firm has a market capitalization of $11.38 billion, a P/E ratio of -46.73 and a beta of 1.22. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $85.71. 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 released its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping 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 company had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. During the same period in the previous year, the firm earned ($0.45) earnings per share. Exact Sciences’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts predict that Exact Sciences Co. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Scotiabank initiated coverage on Exact Sciences in a research report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price objective for the company. BTIG Research cut their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Evercore ISI decreased their target price on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Benchmark cut their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Stifel Nicolaus decreased their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $78.50.

Exact Sciences 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.