Exact Sciences Co. (NASDAQ:EXAS) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 61.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,787 shares of the medical research company’s stock after acquiring an additional 13,213 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Exact Sciences were worth $1,470,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EXAS. Itau Unibanco Holding S.A. acquired a new position in Exact Sciences during the second quarter worth about $29,000. Benjamin F. Edwards & Company Inc. raised its position in Exact Sciences by 65.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares in the last quarter. Able Wealth Management LLC acquired a new position in shares of Exact Sciences during the fourth quarter worth about $45,000. EverSource Wealth Advisors LLC increased its stake in shares of Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in shares of Exact Sciences in the 1st quarter valued at approximately $55,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $65.96 on Monday. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The firm has a market cap of $12.17 billion, a PE ratio of -49.97 and a beta of 1.26. The firm has a 50 day simple moving average of $59.32 and a 200-day simple moving average of $56.09. 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 issued its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The company 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) earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts expect that Exact Sciences Co. will post -0.87 EPS for the current year.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 13,687 shares in the company, valued at approximately $958,090. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EXAS shares. Stifel Nicolaus lowered their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. BTIG Research reduced their price objective on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Evercore ISI reduced their target price on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research report on Thursday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Exact Sciences in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.77.

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.