Capital World Investors Has $883.05 Million Holdings in Exact Sciences Corporation $EXAS

Capital World Investors cut its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 11.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,140,861 shares of the medical research company’s stock after selling 2,059,161 shares during the quarter. Capital World Investors owned 8.52% of Exact Sciences worth $883,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westside Investment Management Inc. increased its position in shares of Exact Sciences by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after purchasing an additional 271 shares in the last quarter. Country Trust Bank bought a new stake in shares of Exact Sciences during the second quarter worth $32,000. Quent Capital LLC acquired a new position in Exact Sciences during the 3rd quarter valued at about $48,000. OFI Invest Asset Management lifted its holdings in Exact Sciences by 241.2% in the third quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company’s stock valued at $59,000 after buying an additional 767 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Exact Sciences by 463.0% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 1,216 shares of the medical research company’s stock valued at $65,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on EXAS. BTIG Research lowered shares of Exact Sciences from a “buy” rating to a “neutral” rating in a report on Thursday, November 20th. Leerink Partners lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Barclays reiterated an “equal weight” rating and set a $105.00 target price (up from $77.00) on shares of Exact Sciences in a report on Thursday, November 20th. Benchmark cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Piper Sandler downgraded Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Monday, November 24th. Twenty-one research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $92.13.

Exact Sciences Price Performance

EXAS stock opened at $103.37 on Wednesday. Exact Sciences Corporation has a 12-month low of $38.81 and a 12-month high of $103.75. The company has a quick ratio of 2.17, a current ratio of 2.43 and a debt-to-equity ratio of 0.97. The company’s fifty day simple moving average is $102.72 and its 200 day simple moving average is $82.91. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of -93.97, a PEG ratio of 2.36 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.During the same period last year, the company earned ($0.06) EPS. The business’s quarterly revenue was up 23.1% on a year-over-year basis. On average, analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.