Banque Cantonale Vaudoise Takes Position in Exact Sciences Corporation (NASDAQ:EXAS)

Banque Cantonale Vaudoise purchased a new stake in Exact Sciences Corporation (NASDAQ:EXAS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 778 shares of the medical research company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. OneDigital Investment Advisors LLC raised its position in Exact Sciences by 0.3% during the first quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company’s stock valued at $4,367,000 after purchasing an additional 270 shares in the last quarter. Allworth Financial LP raised its position in Exact Sciences by 14.3% during the first quarter. Allworth Financial LP now owns 2,986 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 373 shares in the last quarter. Integrated Advisors Network LLC raised its position in Exact Sciences by 5.7% during the first quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company’s stock valued at $305,000 after purchasing an additional 379 shares in the last quarter. Curi RMB Capital LLC raised its position in Exact Sciences by 1.7% during the fourth quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company’s stock valued at $1,399,000 after purchasing an additional 428 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Exact Sciences by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 80,216 shares of the medical research company’s stock valued at $4,507,000 after purchasing an additional 500 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $47.76 on Monday. The company has a quick ratio of 2.38, a current ratio of 2.73 and a debt-to-equity ratio of 0.97. Exact Sciences Corporation has a twelve month low of $39.97 and a twelve month high of $72.83. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of -8.67, a P/E/G ratio of 10.20 and a beta of 0.93. The company’s fifty day moving average is $52.75 and its 200 day moving average is $50.30.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The company had revenue of $706.79 million for the quarter, compared to analysts’ expectations of $688.58 million. During the same quarter in the previous year, the firm posted ($0.60) earnings per share. Exact Sciences’s revenue for the quarter was up 10.9% on a year-over-year basis. Sell-side analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Buying and Selling at Exact Sciences

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Barclays lowered their price objective on shares of Exact Sciences from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, June 24th. Evercore ISI boosted their price objective on shares of Exact Sciences from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. 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. Finally, Royal Bank Of Canada boosted their price objective on shares of Exact Sciences from $52.00 to $54.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

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.