Naviter Wealth LLC Acquires Shares of 3,676 Exact Sciences Co. (NASDAQ:EXAS)

Naviter Wealth LLC acquired a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,676 shares of the medical research company’s stock, valued at approximately $207,000.

A number of other institutional investors also recently made changes to their positions in the business. Huntington National Bank lifted its position in shares of Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Exact Sciences during the third quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new position in Exact Sciences during the 3rd quarter worth approximately $35,000. Asset Planning Inc acquired a new position in shares of Exact Sciences in the 4th quarter worth approximately $40,000. Finally, Modus Advisors LLC bought a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $43,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Price Performance

EXAS stock opened at $47.06 on Monday. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The firm has a 50-day moving average of $52.88 and a two-hundred day moving average of $59.35. The firm has a market capitalization of $8.74 billion, a PE ratio of -8.45 and a beta of 1.25. 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 issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating the consensus estimate 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 business had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. On average, analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EXAS shares. Scotiabank raised their price objective on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Bank of America reduced their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Piper Sandler decreased their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Finally, BTIG Research lifted their target price on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One equities 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 has a consensus rating of “Moderate Buy” and an average price target of $71.94.

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.