Groupama Asset Managment Raises Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Groupama Asset Managment increased its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,209,146 shares of the medical research company’s stock after acquiring an additional 4,194 shares during the period. Groupama Asset Managment owned approximately 0.65% of Exact Sciences worth $67,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of EXAS. Geode Capital Management LLC increased its holdings in shares of Exact Sciences by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company’s stock worth $175,165,000 after purchasing an additional 16,828 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Exact Sciences by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company’s stock valued at $74,785,000 after buying an additional 38,849 shares during the period. Norges Bank bought a new position in Exact Sciences in the 4th quarter worth about $50,625,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Exact Sciences by 63.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company’s stock valued at $30,863,000 after acquiring an additional 213,557 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of Exact Sciences in the 3rd quarter valued at about $28,608,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $43.29 on Tuesday. The stock has a market capitalization of $8.04 billion, a P/E ratio of -7.77 and a beta of 1.25. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The business’s 50 day simple moving average is $49.54 and its two-hundred day simple moving average is $57.58.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million during 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 forecast that Exact Sciences Co. will post -0.58 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America cut their price objective on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Piper Sandler cut 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 note on Wednesday, February 26th. Guggenheim set a $60.00 price objective on shares of Exact Sciences and gave the company a “buy” rating in a research report on Friday. Barclays dropped their price objective on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Finally, William Blair reissued an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.26.

About Exact Sciences

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.