New York Life Investment Management LLC Lowers Position in Exact Sciences Co. (NASDAQ:EXAS)

New York Life Investment Management LLC lessened its stake in Exact Sciences Co. (NASDAQ:EXAS) by 8.4% during the 4th quarter, HoldingsChannel reports. The firm owned 20,362 shares of the medical research company’s stock after selling 1,867 shares during the quarter. New York Life Investment Management LLC’s holdings in Exact Sciences were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after buying an additional 7,873 shares during the period. Champlain Investment Partners LLC raised its stake in shares of Exact Sciences by 10.9% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock worth $169,924,000 after buying an additional 245,980 shares during the period. Bellevue Group AG raised its stake in shares of Exact Sciences by 25.1% during the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after buying an additional 290,585 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Exact Sciences by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock worth $88,017,000 after buying an additional 45,015 shares during the period. Finally, Groupama Asset Managment acquired a new position in shares of Exact Sciences during the 3rd quarter worth approximately $821,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

EXAS has been the subject of several research analyst reports. Evercore ISI reduced their target price on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup reduced their price objective on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group increased their price objective on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. BTIG Research increased their price objective on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus reduced their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus price target of $71.94.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $47.55 on Tuesday. The stock has a market cap of $8.83 billion, a PE ratio of -8.54 and a beta of 1.24. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The stock has a fifty day simple moving average of $53.71 and a 200-day simple moving average of $59.67.

Exact Sciences (NASDAQ:EXAS) last released 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. The business had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Equities analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current year.

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.