EFG Asset Management North America Corp. Increases Holdings in Exact Sciences Corporation $EXAS

EFG Asset Management North America Corp. lifted its position in Exact Sciences Corporation (NASDAQ:EXAS) by 71.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,775 shares of the medical research company’s stock after purchasing an additional 27,390 shares during the period. EFG Asset Management North America Corp.’s holdings in Exact Sciences were worth $3,494,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Great Lakes Advisors LLC lifted its holdings in Exact Sciences by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock worth $215,000 after buying an additional 178 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in Exact Sciences by 0.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 22,432 shares of the medical research company’s stock worth $971,000 after buying an additional 187 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Exact Sciences by 0.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 58,333 shares of the medical research company’s stock worth $3,127,000 after buying an additional 217 shares during the period. IFP Advisors Inc lifted its holdings in Exact Sciences by 6.5% during the second quarter. IFP Advisors Inc now owns 4,466 shares of the medical research company’s stock worth $237,000 after buying an additional 273 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in Exact Sciences by 37.0% during the second quarter. Farther Finance Advisors LLC now owns 1,018 shares of the medical research company’s stock worth $54,000 after buying an additional 275 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Insiders Place Their Bets

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of the stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the sale, the director directly owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Exact Sciences Price Performance

NASDAQ EXAS opened at $69.59 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. The stock’s fifty day moving average price is $56.85 and its 200 day moving average price is $53.02. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.83. The company has a market cap of $13.17 billion, a price-to-earnings ratio of -12.82, a PEG ratio of 5.56 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. The firm had revenue of $850.74 million for the quarter, compared to the consensus estimate of $810.42 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The firm’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. Exact Sciences has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EXAS shares. Stifel Nicolaus upped their target price on Exact Sciences from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. TD Cowen increased their price objective on Exact Sciences from $74.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday. Barclays increased their price objective on Exact Sciences from $65.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday. Craig Hallum increased their price objective on Exact Sciences from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Finally, Piper Sandler increased their price objective on Exact Sciences from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.90.

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.