Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 4,200 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,488 shares of the medical research company’s stock after selling 4,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Exact Sciences were worth $2,612,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Exact Sciences by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after purchasing an additional 7,873 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Exact Sciences by 10.9% during the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock worth $169,924,000 after purchasing an additional 245,980 shares in the last quarter. Bellevue Group AG lifted its position in Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after acquiring an additional 290,585 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Exact Sciences by 3.6% in the 3rd 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 acquiring an additional 45,015 shares in the last quarter. Finally, Groupama Asset Managment bought a new stake in Exact Sciences in the 3rd quarter valued at $821,000. 88.82% of the stock is owned by institutional investors.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $48.50 on Thursday. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $9.01 billion, a P/E ratio of -8.71 and a beta of 1.24. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The firm has a 50-day moving average price of $54.34 and a two-hundred day moving average price of $59.87.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data 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. The firm had revenue of $713.42 million during 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%. Analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Exact Sciences in a research report on Monday, January 13th. The Goldman Sachs Group cut their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group boosted their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI cut their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Sanford C. Bernstein boosted their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.94.

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.