Exact Sciences Co. (NASDAQ:EXAS) Stock Position Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,200 shares of the medical research company’s stock after purchasing an additional 300 shares during the period. Handelsbanken Fonder AB’s holdings in Exact Sciences were worth $2,530,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EXAS. GHP Investment Advisors Inc. acquired a new position in shares of Exact Sciences during the 3rd quarter valued at about $54,000. Exchange Traded Concepts LLC increased its holdings in shares of Exact Sciences by 9.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 15,790 shares of the medical research company’s stock valued at $1,077,000 after acquiring an additional 1,336 shares during the last quarter. Strategic Blueprint LLC increased its holdings in shares of Exact Sciences by 3.1% during the 3rd quarter. Strategic Blueprint LLC now owns 5,449 shares of the medical research company’s stock valued at $372,000 after acquiring an additional 163 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Exact Sciences by 3.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 70,236 shares of the medical research company’s stock valued at $4,792,000 after acquiring an additional 2,351 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Exact Sciences by 3.9% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,088 shares of the medical research company’s stock valued at $3,417,000 after acquiring an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

Exact Sciences stock opened at $58.85 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.32 and a quick ratio of 2.07. The company has a market capitalization of $10.68 billion, a PE ratio of -51.62 and a beta of 1.25. Exact Sciences Co. has a one year low of $56.05 and a one year high of $100.77. The business has a 50 day simple moving average of $63.44 and a 200 day simple moving average of $64.95.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.26. The business had revenue of $646.89 million during the quarter, compared to the consensus estimate of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. Exact Sciences’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.72) EPS. On average, sell-side analysts forecast that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Sarah Condella sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the transaction, the executive vice president now owns 73,787 shares in the company, valued at approximately $5,165,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of Exact Sciences stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the executive vice president now owns 73,787 shares in the company, valued at approximately $5,165,090. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacob A. Orville sold 966 shares of Exact Sciences stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,341.38. Following the completion of the transaction, the insider now owns 7,488 shares of the company’s stock, valued at approximately $459,987.84. The disclosure for this sale can be found here. Insiders sold 69,113 shares of company stock worth $4,165,273 in the last 90 days. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

EXAS has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their price objective on Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Benchmark raised Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Tuesday, January 2nd. Citigroup reaffirmed a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a report on Wednesday, April 3rd. Finally, TheStreet lowered Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and an average price target of $97.44.

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.