Victory Capital Management Inc. Sells 19,248 Shares of Exact Sciences Corporation (NASDAQ:EXAS)

Victory Capital Management Inc. lessened its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 46.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 22,072 shares of the medical research company’s stock after selling 19,248 shares during the period. Victory Capital Management Inc.’s holdings in Exact Sciences were worth $955,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital World Investors raised its stake in shares of Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock worth $985,439,000 after buying an additional 1,696,321 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 valued at $323,669,000 after acquiring an additional 2,462,165 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Exact Sciences by 25.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company’s stock valued at $239,922,000 after acquiring an additional 876,985 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Exact Sciences by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company’s stock valued at $175,165,000 after acquiring an additional 16,828 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Exact Sciences by 107.7% during the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company’s stock valued at $164,037,000 after acquiring an additional 1,513,873 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Insiders Place Their Bets

In related news, Director Katherine S. Zanotti sold 3,207 shares of the company’s stock in a transaction 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 approximately $3,870,778.80. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $46.95 on Friday. The firm has a market cap of $8.86 billion, a PE ratio of -8.52, a PEG ratio of 9.99 and a beta of 0.95. The company has a current ratio of 2.73, a quick ratio of 2.38 and a debt-to-equity ratio of 0.97. Exact Sciences Corporation has a 1-year low of $39.97 and a 1-year high of $72.83. The company has a fifty day moving average price of $52.94 and a 200 day moving average price of $50.36.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.16. The firm had revenue of $706.79 million during the quarter, compared to analyst estimates of $688.58 million. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.60) EPS. Research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EXAS has been the subject of several recent research reports. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. Robert W. Baird upped their target price 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. Evercore ISI upped their target price on shares of Exact Sciences from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Barclays dropped their target price on shares of Exact Sciences from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, June 24th. Finally, Mizuho initiated coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They set an “outperform” rating and a $60.00 target price for the company. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

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.