Champlain Investment Partners LLC Reduces Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Champlain Investment Partners LLC reduced its stake in Exact Sciences Co. (NASDAQ:EXAS) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,437,305 shares of the medical research company’s stock after selling 57,175 shares during the period. Champlain Investment Partners LLC owned approximately 1.32% of Exact Sciences worth $136,952,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Exact Sciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company’s stock worth $175,165,000 after purchasing an additional 16,828 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Exact Sciences by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company’s stock worth $74,785,000 after acquiring an additional 38,849 shares during the period. Groupama Asset Managment raised its position in Exact Sciences by 0.3% in the 4th quarter. Groupama Asset Managment now owns 1,209,146 shares of the medical research company’s stock valued at $67,942,000 after purchasing an additional 4,194 shares in the last quarter. Norges Bank acquired a new position in shares of Exact Sciences during the fourth quarter worth about $50,625,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Exact Sciences by 63.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company’s stock valued at $30,863,000 after acquiring an additional 213,557 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on EXAS shares. Benchmark reaffirmed a “buy” rating and set a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Scotiabank increased their price target on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. Piper Sandler dropped their price objective on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. Finally, Bank of America reduced their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.25.

Exact Sciences Trading Down 3.2 %

NASDAQ:EXAS opened at $42.26 on Thursday. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of -7.59 and a beta of 1.14. The business has a fifty day moving average of $46.28 and a 200-day moving average of $55.39. Exact Sciences Co. has a 1 year low of $39.97 and a 1 year high of $72.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15.

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

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.