Bellevue Group AG Has $78.63 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Bellevue Group AG raised its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,138,526 shares of the medical research company’s stock after buying an additional 90,740 shares during the period. Exact Sciences accounts for about 1.2% of Bellevue Group AG’s portfolio, making the stock its 23rd largest holding. Bellevue Group AG owned about 0.62% of Exact Sciences worth $78,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Exact Sciences by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after acquiring an additional 180,341 shares in the last quarter. Capital World Investors boosted its holdings in shares of Exact Sciences by 74.4% in the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after buying an additional 5,557,168 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Exact Sciences by 12.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock valued at $330,711,000 after buying an additional 508,764 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after buying an additional 1,438,010 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Exact Sciences by 11.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,858,380 shares of the medical research company’s stock worth $137,483,000 after buying an additional 192,372 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Price Performance

Shares of EXAS traded down $3.06 during trading hours on Friday, hitting $45.30. 3,751,212 shares of the company were exchanged, compared to its average volume of 2,264,705. The company has a quick ratio of 1.45, a current ratio of 1.64 and a debt-to-equity ratio of 0.66. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $99.56. The company has a market cap of $8.36 billion, a price-to-earnings ratio of -34.32 and a beta of 1.22. The firm’s fifty day moving average is $45.55 and its 200 day moving average is $56.60.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50). The firm had revenue of $637.52 million for the quarter, compared to the consensus estimate of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. On average, equities analysts anticipate that Exact Sciences Co. will post -1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kevin T. Conroy sold 1,155 shares of Exact Sciences stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total value of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 1,498 shares of company stock worth $90,105 over the last three months. Insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXAS. Evercore ISI cut their target price on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Scotiabank assumed coverage on Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 target price on the stock. BTIG Research cut their price target on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. The Goldman Sachs Group decreased their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Canaccord Genuity Group cut their target price on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.80.

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.