OMERS ADMINISTRATION Corp Raises Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

OMERS ADMINISTRATION Corp lifted its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,044 shares of the medical research company’s stock after acquiring an additional 1,305 shares during the quarter. OMERS ADMINISTRATION Corp owned approximately 0.07% of Exact Sciences worth $6,801,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Thompson Investment Management Inc. increased its position in shares of Exact Sciences by 17.8% during the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock worth $13,585,000 after acquiring an additional 36,505 shares during the period. Jones Financial Companies Lllp increased its position in shares of Exact Sciences by 32.2% during the fourth quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company’s stock worth $534,000 after acquiring an additional 2,315 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Exact Sciences during the fourth quarter valued at approximately $478,000. Sanctuary Advisors LLC increased its holdings in Exact Sciences by 2.0% during the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock valued at $763,000 after buying an additional 269 shares during the period. Finally, Slow Capital Inc. increased its holdings in Exact Sciences by 7.0% during the fourth quarter. Slow Capital Inc. now owns 82,001 shares of the medical research company’s stock valued at $4,608,000 after buying an additional 5,346 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Trading Up 0.5%

Shares of Exact Sciences stock opened at $53.67 on Wednesday. The firm has a 50-day simple moving average of $45.78 and a two-hundred day simple moving average of $52.49. The company has a market cap of $10.12 billion, a P/E ratio of -9.64 and a beta of 0.92. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. 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 issued its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.16. The business had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.60) earnings per share. As a group, equities analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EXAS. Bank of America cut their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Piper Sandler cut their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Mizuho started coverage on shares of Exact Sciences in a research note on Thursday, April 10th. They set an “outperform” rating and a $60.00 price objective for the company. Evercore ISI lifted their price objective on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Robert W. Baird boosted their target price on shares of Exact Sciences from $69.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.90.

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.