Zurcher Kantonalbank Zurich Cantonalbank Has $7.60 Million Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Exact Sciences Co. (NASDAQ:EXAS) by 71.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 179,868 shares of the medical research company’s stock after selling 458,030 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Exact Sciences worth $7,599,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of EXAS. Capital World Investors lifted its stake in Exact Sciences by 74.4% in the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after purchasing an additional 5,557,168 shares during the last quarter. Norges Bank bought a new position in Exact Sciences in the 4th quarter valued at about $120,308,000. Champlain Investment Partners LLC raised its holdings in Exact Sciences by 175.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after acquiring an additional 1,438,010 shares during the period. Iron Triangle Partners LP bought a new position in Exact Sciences in the 1st quarter valued at about $48,342,000. Finally, Artisan Partners Limited Partnership raised its holdings in Exact Sciences by 12.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock valued at $330,711,000 after acquiring an additional 508,764 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Price Performance

Shares of NASDAQ EXAS traded down $0.79 during trading hours on Friday, hitting $61.47. 969,034 shares of the stock were exchanged, compared to its average volume of 2,622,101. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 2.17. The company has a market cap of $11.34 billion, a PE ratio of -46.88 and a beta of 1.22. The company’s fifty day simple moving average is $50.91 and its two-hundred day simple moving average is $55.40. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $85.71.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business had revenue of $699.26 million for the quarter, compared to analyst estimates of $690.02 million. During the same quarter last year, the business posted ($0.45) EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, sell-side analysts predict that Exact Sciences Co. will post -1.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EXAS shares. Canaccord Genuity Group lowered their price target on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Wells Fargo & Company started coverage on shares of Exact Sciences in a report on Tuesday. They issued an “overweight” rating and a $75.00 price target on the stock. BTIG Research lowered their price target on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. The Goldman Sachs Group lowered their target price on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Stifel Nicolaus lowered their target price on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and fifteen have assigned 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 $78.50.

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.