Schroder Investment Management Group Boosts Stock Holdings in Exact Sciences Corporation $EXAS

Schroder Investment Management Group lifted its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 7.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 811,200 shares of the medical research company’s stock after buying an additional 53,792 shares during the quarter. Schroder Investment Management Group’s holdings in Exact Sciences were worth $43,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EXAS. Y Intercept Hong Kong Ltd purchased a new position in shares of Exact Sciences in the second quarter worth $3,716,000. Teacher Retirement System of Texas increased its holdings in Exact Sciences by 640.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 200,397 shares of the medical research company’s stock worth $10,649,000 after buying an additional 173,343 shares in the last quarter. Gagnon Securities LLC raised its position in Exact Sciences by 3.0% in the 2nd quarter. Gagnon Securities LLC now owns 278,789 shares of the medical research company’s stock worth $14,815,000 after buying an additional 8,125 shares during the last quarter. Woodline Partners LP lifted its stake in Exact Sciences by 62.0% during the 1st quarter. Woodline Partners LP now owns 537,863 shares of the medical research company’s stock valued at $23,284,000 after acquiring an additional 205,875 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its stake in Exact Sciences by 27.2% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 163,204 shares of the medical research company’s stock valued at $8,673,000 after acquiring an additional 34,914 shares during the period. 88.82% of the stock is owned by institutional investors.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total transaction of $200,288.64. Following the completion of the sale, the executive vice president owned 22,368 shares of the company’s stock, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Edward Doyle sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the sale, the director owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. The trade was a 3.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 9,858 shares of company stock worth $695,289. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Piper Sandler lowered shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price target for the company. in a research note on Monday, November 24th. Citigroup cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. UBS Group decreased their target price on shares of Exact Sciences from $61.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Benchmark cut Exact Sciences from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Evercore ISI raised their price target on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $85.00.

Exact Sciences Stock Down 0.1%

Shares of EXAS stock opened at $101.20 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $101.87. The stock has a market cap of $19.17 billion, a P/E ratio of -18.64, a P/E/G ratio of 5.56 and a beta of 1.34. The company has a 50 day simple moving average of $68.61 and a two-hundred day simple moving average of $57.47.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.11. The business had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.21) EPS. Exact Sciences has set its FY 2025 guidance at EPS. On average, research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

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.