Frontier Capital Management Co. LLC Cuts Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Frontier Capital Management Co. LLC reduced its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 61.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,799 shares of the medical research company’s stock after selling 365,411 shares during the quarter. Frontier Capital Management Co. LLC owned 0.12% of Exact Sciences worth $12,688,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Capital World Investors boosted its position in Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock worth $985,439,000 after purchasing an additional 1,696,321 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Exact Sciences by 74.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company’s stock valued at $323,669,000 after buying an additional 2,462,165 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Exact Sciences by 25.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company’s stock valued at $239,922,000 after acquiring an additional 876,985 shares during the period. Geode Capital Management LLC increased its holdings in Exact Sciences by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company’s stock worth $175,165,000 after acquiring an additional 16,828 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 worth $74,785,000 after acquiring an additional 38,849 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $51.72 on Friday. The stock has a market cap of $9.76 billion, a PE ratio of -9.29 and a beta of 0.92. Exact Sciences Co. has a twelve month low of $39.97 and a twelve month high of $72.83. The stock has a fifty day simple moving average of $45.52 and a 200-day simple moving average of $52.83. 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 (NASDAQ:EXAS) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The business had revenue of $706.79 million during the quarter, compared to analysts’ expectations of $688.58 million. During the same period last year, the business earned ($0.60) earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EXAS shares. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Scotiabank raised their target price on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Evercore ISI boosted their price target on Exact Sciences from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Mizuho began coverage on Exact Sciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $65.00 target price on shares of Exact Sciences in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.90.

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.