Vanguard Group Inc. Has $763.54 Million Position in Exact Sciences Corporation (NASDAQ:EXAS)

Vanguard Group Inc. boosted its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 3.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,637,674 shares of the medical research company’s stock after purchasing an additional 617,384 shares during the quarter. Vanguard Group Inc. owned 0.09% of Exact Sciences worth $763,535,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its holdings in shares of Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after buying an additional 589 shares during the period. Banque Cantonale Vaudoise bought a new position in Exact Sciences during the first quarter worth about $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Exact Sciences in the first quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Exact Sciences in the fourth quarter valued at about $45,000. Finally, Bayforest Capital Ltd increased its holdings in shares of Exact Sciences by 95.8% in the first quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company’s stock worth $40,000 after acquiring an additional 453 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Up 2.0%

NASDAQ:EXAS opened at $41.74 on Wednesday. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $72.83. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of -7.69, a price-to-earnings-growth ratio of 4.73 and a beta of 0.93. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average price is $50.99 and its two-hundred day moving average price is $49.84.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.24. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business had revenue of $811.09 million for the quarter, compared to the consensus estimate of $774.43 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cowen reiterated a “buy” rating on shares of Exact Sciences in a report on Thursday, August 7th. BTIG Research cut their price target on shares of Exact Sciences from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays reduced their price target on shares of Exact Sciences from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Robert W. Baird boosted their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and an average target price of $67.43.

Insider Buying and Selling at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the sale, the director directly owned 72,759 shares in the company, valued at approximately $3,870,778.80. This trade represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.