Commonwealth Equity Services LLC Has $5.15 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Commonwealth Equity Services LLC lowered its position in Exact Sciences Co. (NASDAQ:EXAS) by 5.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 91,626 shares of the medical research company’s stock after selling 5,097 shares during the period. Commonwealth Equity Services LLC’s holdings in Exact Sciences were worth $5,148,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Exact Sciences in the 3rd quarter worth approximately $34,000. Asset Planning Inc acquired a new position in shares of Exact Sciences during the 4th quarter valued at $40,000. Modus Advisors LLC acquired a new position in shares of Exact Sciences during the 4th quarter valued at $43,000. AlphaQuest LLC lifted its position in shares of Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 913 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Exact Sciences during the 4th quarter valued at $66,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $45.62 on Friday. 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 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of -8.19 and a beta of 1.25. The company has a fifty day moving average price of $50.55 and a 200-day moving average price of $58.27.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. As a group, equities research analysts predict that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler dropped their target price on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Bank of America dropped their target price on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Barclays dropped their target price on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. BTIG Research boosted their target price on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Scotiabank boosted their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.83.

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.