Rhumbline Advisers Acquires 3,873 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Rhumbline Advisers boosted its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,301 shares of the medical research company’s stock after acquiring an additional 3,873 shares during the period. Rhumbline Advisers owned about 0.12% of Exact Sciences worth $9,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in Exact Sciences by 32.2% during the 4th quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company’s stock worth $534,000 after acquiring an additional 2,315 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Exact Sciences during the 4th quarter worth about $478,000. Sanctuary Advisors LLC lifted its position in shares of Exact Sciences by 2.0% during the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock valued at $763,000 after buying an additional 269 shares during the last quarter. abrdn plc lifted its position in shares of Exact Sciences by 843.0% during the fourth quarter. abrdn plc now owns 61,641 shares of the medical research company’s stock valued at $3,464,000 after buying an additional 55,104 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in shares of Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock valued at $52,000 after buying an additional 913 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on EXAS. Bank of America decreased their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Robert W. Baird increased their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Scotiabank increased their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Evercore ISI increased their price target on shares of Exact Sciences from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Exact Sciences in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.90.

Exact Sciences Stock Performance

EXAS opened at $54.63 on Tuesday. Exact Sciences Co. has a 12-month low of $39.97 and a 12-month high of $72.83. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $10.31 billion, a PE ratio of -9.81 and a beta of 0.98. The firm has a 50 day moving average of $50.03 and a two-hundred day moving average of $52.17.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.16. The business had revenue of $706.79 million for the quarter, compared to analysts’ expectations of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.60) EPS. On average, analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current year.

Exact Sciences Company 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.