Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 4,200 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in Exact Sciences Co. (NASDAQ:EXAS) by 8.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 46,488 shares of the medical research company’s stock after selling 4,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Exact Sciences were worth $2,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Handelsbanken Fonder AB lifted its stake in Exact Sciences by 1.2% in the 4th quarter. Handelsbanken Fonder AB now owns 49,200 shares of the medical research company’s stock valued at $2,765,000 after purchasing an additional 600 shares during the last quarter. Ieq Capital LLC lifted its stake in Exact Sciences by 465.8% in the 4th quarter. Ieq Capital LLC now owns 26,993 shares of the medical research company’s stock valued at $1,517,000 after purchasing an additional 22,222 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Exact Sciences in the 4th quarter valued at approximately $478,000. Atria Wealth Solutions Inc. bought a new position in Exact Sciences in the 4th quarter valued at approximately $316,000. Finally, CIBC Asset Management Inc lifted its stake in Exact Sciences by 14.0% in the 4th quarter. CIBC Asset Management Inc now owns 7,396 shares of the medical research company’s stock valued at $416,000 after purchasing an additional 907 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Down 3.3 %

Exact Sciences stock opened at $48.50 on Thursday. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of -8.71 and a beta of 1.24. The firm’s fifty day moving average price is $54.34 and its two-hundred day moving average price is $59.87. 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 released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The company had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. On average, equities research analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EXAS has been the subject of several recent research reports. Barclays decreased their price target on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Jefferies Financial Group upped their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus decreased their price target on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Canaccord Genuity Group decreased their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, TD Cowen upped their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.94.

About Exact Sciences

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.