Erste Asset Management GmbH Reduces Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Erste Asset Management GmbH cut its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 10.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,781 shares of the medical research company’s stock after selling 39,358 shares during the period. Erste Asset Management GmbH’s holdings in Exact Sciences were worth $19,904,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in EXAS. Geode Capital Management LLC raised its holdings in shares of Exact Sciences by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after acquiring an additional 7,873 shares during the last quarter. Champlain Investment Partners LLC raised its stake in Exact Sciences by 10.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after purchasing an additional 245,980 shares during the last quarter. Bellevue Group AG lifted its holdings in Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after purchasing an additional 290,585 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Exact Sciences by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company’s stock worth $74,785,000 after purchasing an additional 38,849 shares during the last quarter. Finally, Groupama Asset Managment acquired a new position in shares of Exact Sciences in the third quarter valued at approximately $821,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Trading Up 1.0 %

EXAS opened at $46.35 on Thursday. The firm has a market capitalization of $8.61 billion, a P/E ratio of -8.32 and a beta of 1.25. The firm’s 50 day moving average is $52.26 and its 200-day moving average is $59.06. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on EXAS shares. Benchmark reaffirmed a “buy” rating and issued a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. Scotiabank upped their target price on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 20th. Piper Sandler dropped their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, TD Cowen lifted their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.94.

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.