Fisher Asset Management LLC Trims Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Fisher Asset Management LLC lowered its position in Exact Sciences Co. (NASDAQ:EXAS) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,819 shares of the medical research company’s stock after selling 3,550 shares during the quarter. Fisher Asset Management LLC owned approximately 0.08% of Exact Sciences worth $11,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of Exact Sciences by 94.0% during the fourth quarter. Jennison Associates LLC now owns 1,360,917 shares of the medical research company’s stock worth $100,681,000 after purchasing an additional 659,235 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Exact Sciences by 11.8% during the third quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock worth $270,254,000 after purchasing an additional 418,770 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Exact Sciences by 328.3% in the third quarter. Qube Research & Technologies Ltd now owns 540,191 shares of the medical research company’s stock worth $36,852,000 after acquiring an additional 414,059 shares in the last quarter. Victory Capital Management Inc. raised its position in Exact Sciences by 230.8% in the third quarter. Victory Capital Management Inc. now owns 510,388 shares of the medical research company’s stock worth $34,819,000 after acquiring an additional 356,084 shares in the last quarter. Finally, Armistice Capital LLC raised its position in Exact Sciences by 50.7% in the third quarter. Armistice Capital LLC now owns 711,520 shares of the medical research company’s stock worth $48,540,000 after acquiring an additional 239,520 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EXAS shares. Canaccord Genuity Group cut their price objective on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Citigroup reiterated a “buy” rating and issued a $100.00 price objective on shares of Exact Sciences in a research report on Wednesday, April 3rd. TheStreet cut Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.07.

Exact Sciences Trading Up 2.1 %

Shares of Exact Sciences stock opened at $63.35 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of -55.57 and a beta of 1.26. The business has a fifty day simple moving average of $63.49 and a 200-day simple moving average of $64.71. Exact Sciences Co. has a fifty-two week low of $56.05 and a fifty-two week high of $100.77.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The firm had revenue of $646.89 million for the quarter, compared to the consensus estimate of $638.83 million. During the same quarter in the previous year, the company earned ($0.72) EPS. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities analysts forecast that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Exact Sciences news, EVP Sarah Condella sold 965 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,279.95. Following the transaction, the executive vice president now owns 70,489 shares in the company, valued at approximately $4,330,139.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Sarah Condella sold 965 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,279.95. Following the transaction, the executive vice president now directly owns 70,489 shares of the company’s stock, valued at $4,330,139.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacob A. Orville sold 966 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,341.38. Following the completion of the transaction, the insider now owns 7,488 shares in the company, valued at approximately $459,987.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,611 shares of company stock worth $4,255,377. 1.30% of the stock is owned by company insiders.

Exact Sciences Company 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.