Patten & Patten Inc. TN Has $1.47 Million Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Patten & Patten Inc. TN raised its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,153 shares of the medical research company’s stock after acquiring an additional 460 shares during the quarter. Patten & Patten Inc. TN’s holdings in Exact Sciences were worth $1,470,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. lifted its position in Exact Sciences by 17.8% during the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after purchasing an additional 36,505 shares during the period. Zacks Investment Management bought a new stake in shares of Exact Sciences in the 3rd quarter valued at about $2,083,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Exact Sciences by 59.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock valued at $22,868,000 after acquiring an additional 125,192 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Exact Sciences by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock valued at $88,017,000 after acquiring an additional 45,015 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Exact Sciences by 35.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company’s stock valued at $5,385,000 after acquiring an additional 24,992 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Up 4.6 %

Shares of EXAS opened at $45.00 on Monday. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The firm has a market cap of $8.36 billion, a P/E ratio of -8.08 and a beta of 1.25. The firm’s 50-day simple moving average is $51.73 and its 200 day simple moving average is $58.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15.

Exact Sciences (NASDAQ:EXAS) last announced its 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. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. On average, analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays lowered their price target on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Royal Bank of Canada assumed coverage on Exact Sciences in a research note on Thursday. They issued a “sector perform” rating and a $52.00 price target for the company. Scotiabank upped their price target on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Bank of America lowered their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, BTIG Research increased their target price on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $70.83.

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.