Public Employees Retirement System of Ohio Purchases 1,653 Shares of Exact Sciences Corporation $EXAS

Public Employees Retirement System of Ohio grew its position in Exact Sciences Corporation (NASDAQ:EXAS) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,280 shares of the medical research company’s stock after acquiring an additional 1,653 shares during the period. Public Employees Retirement System of Ohio’s holdings in Exact Sciences were worth $3,097,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 589 shares during the last quarter. National Pension Service raised its stake in shares of Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 292 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Exact Sciences in the first quarter valued at approximately $30,000. Banque Cantonale Vaudoise bought a new position in Exact Sciences in the 1st quarter worth approximately $34,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Exact Sciences in the 1st quarter worth approximately $34,000. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

EXAS opened at $56.43 on Thursday. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $72.83. The firm has a market capitalization of $10.68 billion, a PE ratio of -10.39, a P/E/G ratio of 5.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. The company has a fifty day moving average price of $49.26 and a two-hundred day moving average price of $49.90.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.24. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business had revenue of $811.09 million during the quarter, compared to analysts’ expectations of $774.43 million. During the same quarter in the prior year, the company earned ($0.09) EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insider Activity at Exact Sciences

In related news, Director James Edward Doyle sold 1,485 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the sale, the director owned 59,962 shares in the company, valued at $2,519,603.24. This represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on EXAS shares. Piper Sandler dropped their price objective on shares of Exact Sciences from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, August 11th. Zacks Research cut shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Wells Fargo & Company set a $68.00 price objective on shares of Exact Sciences in a research report on Wednesday. Royal Bank Of Canada dropped their price objective on shares of Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating for the company in a research report on Thursday, August 7th. Finally, Cowen restated a “buy” rating on shares of Exact Sciences in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.05.

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.