Advisors Capital Management LLC Buys New Position in Exact Sciences Co. (NASDAQ:EXAS)

Advisors Capital Management LLC purchased a new position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,157 shares of the medical research company's stock, valued at approximately $515,000.

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Several other institutional investors also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. grew its position in shares of Exact Sciences by 17.8% during the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company's stock worth $13,585,000 after acquiring an additional 36,505 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Exact Sciences by 35.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company's stock worth $5,385,000 after purchasing an additional 24,992 shares during the last quarter. Jones Financial Companies Lllp increased its stake 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 period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Exact Sciences in the fourth quarter valued at about $478,000. Finally, Sanctuary Advisors LLC boosted its stake in shares of Exact Sciences by 2.0% during 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 period. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Trading Down 1.3 %

Shares of Exact Sciences stock opened at $43.67 on Wednesday. The business has a 50 day moving average price of $46.50 and a 200 day moving average price of $55.48. The company has a market capitalization of $8.11 billion, a P/E ratio of -7.84 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. Exact Sciences Co. has a 1 year low of $39.97 and a 1 year high of $72.83.

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Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million for the quarter, compared to analysts' expectations of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Sell-side analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on EXAS shares. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Scotiabank lifted their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research report on Monday, February 24th. Piper Sandler cut their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Barclays lowered their target price on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Bank of America cut their price target on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Exact Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $69.25.

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Get Our Latest Stock Report on EXAS

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.

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