Cerity Partners LLC Has $1.54 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Cerity Partners LLC grew its stake in Exact Sciences Co. (NASDAQ:EXAS) by 65.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,090 shares of the medical research company’s stock after purchasing an additional 10,761 shares during the quarter. Cerity Partners LLC’s holdings in Exact Sciences were worth $1,541,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its stake in Exact Sciences by 3.2% in the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock valued at $474,000 after purchasing an additional 264 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Exact Sciences by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock valued at $763,000 after buying an additional 269 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Exact Sciences by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock worth $812,000 after acquiring an additional 300 shares during the last quarter. Patten & Patten Inc. TN grew its holdings in shares of Exact Sciences by 1.8% during the fourth quarter. Patten & Patten Inc. TN now owns 26,153 shares of the medical research company’s stock worth $1,470,000 after purchasing an additional 460 shares during the last quarter. Finally, Forsta AP Fonden lifted its holdings in shares of Exact Sciences by 1.3% during the fourth quarter. Forsta AP Fonden now owns 39,300 shares of the medical research company’s stock worth $2,208,000 after purchasing an additional 500 shares during the period. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $41.58 on Friday. The business has a fifty day simple moving average of $46.06 and a two-hundred day simple moving average of $55.21. Exact Sciences Co. has a 1 year low of $39.97 and a 1 year high of $72.83. The company has a market capitalization of $7.72 billion, a P/E ratio of -7.46 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. On average, analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on EXAS shares. Barclays decreased their target price on shares of Exact Sciences from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 20th. Scotiabank boosted their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Bank of America reduced their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Royal Bank of Canada assumed coverage on shares of Exact Sciences in a research report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.25.

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.