Intech Investment Management LLC Trims Position in Exact Sciences Co. (NASDAQ:EXAS)

Intech Investment Management LLC reduced its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 70.3% during the 4th quarter, Holdings Channel reports. The fund owned 3,560 shares of the medical research company’s stock after selling 8,426 shares during the period. Intech Investment Management LLC’s holdings in Exact Sciences were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EXAS. Perigon Wealth Management LLC boosted its holdings in Exact Sciences by 3.2% in the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock valued at $474,000 after purchasing an additional 264 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Exact Sciences by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock worth $763,000 after buying an additional 269 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Exact Sciences by 2.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock worth $812,000 after acquiring an additional 300 shares during the period. Patten & Patten Inc. TN raised its position in Exact Sciences by 1.8% during the fourth quarter. Patten & Patten Inc. TN now owns 26,153 shares of the medical research company’s stock valued at $1,470,000 after acquiring an additional 460 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in Exact Sciences in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Down 1.6 %

Shares of NASDAQ EXAS opened at $44.92 on Thursday. 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 company has a 50-day moving average of $49.98 and a 200 day moving average of $58.00. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The stock has a market cap of $8.34 billion, a PE ratio of -8.06 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EXAS shares. Barclays dropped their price objective on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Piper Sandler dropped their price target 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. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 20th. Royal Bank of Canada assumed coverage on Exact Sciences in a research report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 target price on the stock. Finally, Bank of America reduced their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus target price of $70.83.

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.