C WorldWide Group Holding A S Reduces Holdings in Exact Sciences Co. (NASDAQ:EXAS)

C WorldWide Group Holding A S decreased its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 44.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 836,618 shares of the medical research company’s stock after selling 664,211 shares during the quarter. Exact Sciences makes up about 0.6% of C WorldWide Group Holding A S’s holdings, making the stock its 21st largest position. C WorldWide Group Holding A S owned 0.45% of Exact Sciences worth $47,010,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in EXAS. Huntington National Bank increased its position in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Exact Sciences in the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new position in Exact Sciences in the 3rd quarter valued at about $35,000. Asset Planning Inc acquired a new position in Exact Sciences in the 4th quarter valued at about $40,000. Finally, Modus Advisors LLC acquired a new position in Exact Sciences during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EXAS shares. Sanford C. Bernstein boosted their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Bank of America dropped their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday. BTIG Research boosted their target price on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Benchmark reiterated a “buy” rating and set a $65.00 target price on shares of Exact Sciences in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.06.

Exact Sciences Price Performance

EXAS stock opened at $49.26 on Monday. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The stock’s 50 day moving average price is $54.91 and its 200 day moving average price is $60.04. The firm has a market cap of $9.15 billion, a P/E ratio of -8.84 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. On average, sell-side analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

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.