Charles Schwab Investment Management Inc. Has $88.02 Million Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Charles Schwab Investment Management Inc. raised its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 3.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,292,090 shares of the medical research company’s stock after acquiring an additional 45,015 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Exact Sciences were worth $88,017,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EXAS. William Blair Investment Management LLC acquired a new position in Exact Sciences in the second quarter valued at approximately $163,896,000. Sculptor Capital LP bought a new stake in shares of Exact Sciences during the 2nd quarter valued at $32,819,000. Samlyn Capital LLC bought a new stake in shares of Exact Sciences during the 2nd quarter valued at $30,426,000. Armistice Capital LLC boosted its position in shares of Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after purchasing an additional 669,438 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Exact Sciences by 19.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,303,887 shares of the medical research company’s stock worth $55,089,000 after purchasing an additional 208,641 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $61.69 on Thursday. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The company’s fifty day simple moving average is $64.35 and its 200-day simple moving average is $55.89. The firm has a market cap of $11.42 billion, a PE ratio of -51.73 and a beta of 1.27. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts expect that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EXAS has been the topic of several analyst reports. Canaccord Genuity Group cut their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Robert W. Baird cut their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Raymond James restated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Craig Hallum cut their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and an average price target of $75.29.

Insider Buying and Selling at Exact Sciences

In other news, CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were 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 directly owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

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.