Exact Sciences Co. (NASDAQ:EXAS) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 19.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 31,236 shares of the medical research company’s stock after buying an additional 5,193 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Exact Sciences were worth $3,883,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in EXAS. ARK Investment Management LLC lifted its stake in shares of Exact Sciences by 72.2% in the 1st quarter. ARK Investment Management LLC now owns 9,148,635 shares of the medical research company’s stock valued at $1,205,607,000 after purchasing an additional 3,836,169 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Exact Sciences by 278.3% in the 1st quarter. Baillie Gifford & Co. now owns 4,347,026 shares of the medical research company’s stock valued at $572,851,000 after purchasing an additional 3,197,782 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Exact Sciences by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,293,939 shares of the medical research company’s stock valued at $2,410,775,000 after purchasing an additional 1,155,691 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Exact Sciences by 39.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,743,485 shares of the medical research company’s stock valued at $465,353,000 after purchasing an additional 1,067,298 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its stake in shares of Exact Sciences by 47.6% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 3,244,562 shares of the medical research company’s stock valued at $401,677,000 after purchasing an additional 1,046,432 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on EXAS. SVB Leerink cut their price objective on Exact Sciences from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, July 14th. Stifel Nicolaus cut their price objective on Exact Sciences from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 29th. Zacks Investment Research upgraded Exact Sciences from a “hold” rating to a “strong-buy” rating and set a $126.00 price objective on the stock in a report on Tuesday, July 13th. Canaccord Genuity cut their price objective on Exact Sciences from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, July 29th. Finally, BTIG Research cut their price objective on Exact Sciences from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 29th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences presently has a consensus rating of “Buy” and a consensus price target of $149.06.

Shares of NASDAQ EXAS opened at $97.06 on Wednesday. The stock’s 50-day moving average is $105.97 and its two-hundred day moving average is $116.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.47 and a quick ratio of 2.34. Exact Sciences Co. has a 1-year low of $70.75 and a 1-year high of $159.54. The company has a market cap of $16.69 billion, a price-to-earnings ratio of -17.78 and a beta of 1.29.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, July 27th. The medical research company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.31). Exact Sciences had a negative net margin of 50.52% and a negative return on equity of 8.93%. The business had revenue of $434.82 million during the quarter, compared to analysts’ expectations of $418.76 million. Equities research analysts anticipate that Exact Sciences Co. will post -3.17 earnings per share for the current fiscal year.

In related news, CFO Jeffrey Thomas Elliott sold 38,361 shares of the company’s stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $111.40, for a total value of $4,273,415.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katherine S. Zanotti sold 1,381 shares of the company’s stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $111.11, for a total value of $153,442.91. Following the completion of the sale, the director now directly owns 34,741 shares of the company’s stock, valued at $3,860,072.51. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Exact Sciences Company Profile

EXACT Sciences Corp. is a molecular diagnostics company, which focuses on the early detection and prevention of colorectal cancer. It developed Cologuard, a screening test for the early detection of colorectal cancer and pre-cancer. The company was founded on February 10, 1995 and is headquartered in Madison, WI.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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