Exact Sciences Co. (NASDAQ:EXAS) Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,330,939 shares of the medical research company’s stock after purchasing an additional 38,849 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Exact Sciences were worth $74,785,000 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. Thompson Investment Management Inc. boosted its stake 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 in the last quarter. WCM Investment Management LLC boosted its stake in Exact Sciences by 1,153.2% during the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after purchasing an additional 172,821 shares in the last quarter. Simplify Asset Management Inc. boosted its stake in Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after purchasing an additional 11,800 shares in the last quarter. Zacks Investment Management bought a new position in Exact Sciences during the 3rd quarter valued at $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Exact Sciences by 59.5% during 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 purchasing an additional 125,192 shares in the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $44.97 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The business has a fifty day simple moving average of $52.66 and a 200 day simple moving average of $59.25. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of -8.07 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.23. The firm had revenue of $713.42 million for 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%. As a group, sell-side analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EXAS has been the subject of a number of research reports. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. BTIG Research increased their price target on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Benchmark reissued a “buy” rating and set a $65.00 price objective on shares of Exact Sciences in a research note on Monday, January 13th. Bank of America reduced their price objective 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, Piper Sandler reduced their price objective on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $71.94.

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.