Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,819 shares of the medical research company’s stock after selling 2,106 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Exact Sciences were worth $1,001,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Thompson Investment Management Inc. increased its holdings in Exact Sciences by 17.8% in the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock worth $13,585,000 after buying an additional 36,505 shares during the period. Zacks Investment Management acquired a new stake in shares of Exact Sciences in the third quarter worth $2,083,000. Charles Schwab Investment Management Inc. lifted its position in Exact Sciences by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock valued at $88,017,000 after purchasing an additional 45,015 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Exact Sciences by 35.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company’s stock valued at $5,385,000 after purchasing an additional 24,992 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Exact Sciences by 32.2% in the fourth quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company’s stock valued at $534,000 after purchasing an additional 2,315 shares during the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Stock Performance

EXAS opened at $45.62 on Friday. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The firm has a market capitalization of $8.47 billion, a PE ratio of -8.19 and a beta of 1.25. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The firm’s 50-day moving average price is $50.55 and its 200 day moving average price is $58.27.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen boosted their price objective on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler lowered their price objective on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Barclays decreased their target price on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Royal Bank of Canada began coverage on shares of Exact Sciences in a research report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.