AGF Management Ltd. Purchases Shares of 47,466 Exact Sciences Co. (NASDAQ:EXAS)

AGF Management Ltd. acquired a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,466 shares of the medical research company’s stock, valued at approximately $2,667,000.

Several other hedge funds and other institutional investors also recently modified their holdings of EXAS. Geode Capital Management LLC increased its stake in Exact Sciences by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock valued at $211,104,000 after acquiring an additional 7,873 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Exact Sciences by 10.9% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after purchasing an additional 245,980 shares during the last quarter. Bellevue Group AG raised its holdings in shares of Exact Sciences by 25.1% during the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after buying an additional 290,585 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Exact Sciences by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company’s stock worth $74,785,000 after buying an additional 38,849 shares during the last quarter. Finally, Groupama Asset Managment purchased a new stake in Exact Sciences in the third quarter worth approximately $821,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Down 7.1 %

Shares of NASDAQ EXAS opened at $43.04 on Friday. The firm has a fifty day simple moving average of $52.26 and a two-hundred day simple moving average of $59.06. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $7.99 billion, a PE ratio of -7.73 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Equities analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

EXAS has been the topic of several research reports. Piper Sandler decreased their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Benchmark reiterated a “buy” rating and issued a $65.00 target price on shares of Exact Sciences in a research report on Monday, January 13th. 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. Royal Bank of Canada assumed coverage on Exact Sciences in a report on Thursday. They issued a “sector perform” rating and a $52.00 price objective on the stock. Finally, BTIG Research increased their target price on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $70.83.

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.