Exact Sciences Corporation $EXAS Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. lessened its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 31.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,919,029 shares of the medical research company’s stock after selling 1,350,794 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Exact Sciences were worth $126,365,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Exact Sciences by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company’s stock worth $763,535,000 after acquiring an additional 617,384 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Exact Sciences by 74.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company’s stock worth $323,669,000 after acquiring an additional 2,462,165 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Exact Sciences by 12.4% during the 1st quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company’s stock worth $142,062,000 after acquiring an additional 362,314 shares during the period. Spyglass Capital Management LLC raised its holdings in shares of Exact Sciences by 10.2% during the 4th quarter. Spyglass Capital Management LLC now owns 1,539,436 shares of the medical research company’s stock worth $86,501,000 after acquiring an additional 142,343 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Exact Sciences by 6.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,421,671 shares of the medical research company’s stock valued at $79,884,000 after buying an additional 81,774 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Down 0.7%

Shares of NASDAQ:EXAS opened at $46.68 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. The firm has a market capitalization of $8.84 billion, a PE ratio of -8.60, a price-to-earnings-growth ratio of 4.81 and a beta of 0.93. The firm’s 50-day moving average is $49.69 and its two-hundred day moving average is $49.40. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.83.

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

Insider Buying and Selling

In related news, Director James Edward Doyle sold 1,485 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the transaction, the director directly owned 59,962 shares of the company’s stock, valued at $2,519,603.24. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Katherine S. Zanotti sold 3,207 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the transaction, the director directly owned 72,759 shares of the company’s stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EXAS shares. Piper Sandler reduced their price objective on shares of Exact Sciences from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, August 11th. Royal Bank Of Canada reduced their price objective on shares of Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating on the stock in a report on Thursday, August 7th. UBS Group reduced their price objective on shares of Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. BTIG Research reduced their price objective on shares of Exact Sciences from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Finally, Barclays reduced their price objective on shares of Exact Sciences from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $67.43.

About Exact Sciences

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.