Dimensional Fund Advisors LP Grows Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Dimensional Fund Advisors LP grew its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 12.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,002,784 shares of the medical research company’s stock after purchasing an additional 108,296 shares during the period. Dimensional Fund Advisors LP owned approximately 0.54% of Exact Sciences worth $42,389,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EXAS. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares during the last quarter. Able Wealth Management LLC purchased a new position in shares of Exact Sciences during the fourth quarter valued at approximately $45,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 340 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of Exact Sciences during the first quarter valued at approximately $55,000. Finally, GAMMA Investing LLC increased its position in shares of Exact Sciences by 48.4% during the second quarter. GAMMA Investing LLC now owns 1,362 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 444 shares in the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Trading Up 3.3 %

Shares of Exact Sciences stock opened at $68.12 on Tuesday. The company’s fifty day simple moving average is $59.72 and its 200-day simple moving average is $56.16. The stock has a market capitalization of $12.57 billion, a PE ratio of -51.61 and a beta of 1.26. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.28. The business had revenue of $699.26 million for the quarter, compared to analysts’ expectations of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.45) EPS. As a group, equities analysts anticipate that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now owns 13,687 shares in the company, valued at approximately $958,090. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Evercore ISI reduced their price target on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler raised their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Scotiabank assumed coverage on shares of Exact Sciences in a research report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and set a $75.00 price target on shares of Exact Sciences in a research report on Friday, September 13th. Finally, Jefferies Financial Group started coverage on shares of Exact Sciences in a research report on Monday, June 3rd. They set a “buy” rating and a $75.00 price target for the company. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $77.77.

Exact Sciences 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.