Illinois Municipal Retirement Fund Invests $4.30 Million in Exact Sciences Corporation $EXAS

Illinois Municipal Retirement Fund bought a new stake in Exact Sciences Corporation (NASDAQ:EXAS) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 80,870 shares of the medical research company’s stock, valued at approximately $4,297,000.

Other institutional investors have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Exact Sciences by 120.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock worth $135,453,000 after acquiring an additional 1,707,287 shares during the last quarter. Nuveen LLC acquired a new position in Exact Sciences during the first quarter worth $45,334,000. Price T Rowe Associates Inc. MD grew its position in Exact Sciences by 11.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company’s stock valued at $277,225,000 after purchasing an additional 643,631 shares in the last quarter. Vanguard Group Inc. increased its stake in Exact Sciences by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company’s stock valued at $763,535,000 after buying an additional 617,384 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new stake in Exact Sciences in the 2nd quarter valued at $28,169,000. Institutional investors own 88.82% of the company’s stock.

Insider Buying and Selling

In related news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the sale, the director directly owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Baranick sold 2,858 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the transaction, the executive vice president directly owned 22,368 shares in the company, valued at approximately $1,567,549.44. This represents a 11.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is currently owned by company insiders.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $68.37 on Thursday. The stock has a market cap of $12.95 billion, a PE ratio of -12.59, a P/E/G ratio of 5.56 and a beta of 1.34. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. The firm has a 50-day moving average of $59.24 and a 200-day moving average of $53.93. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $72.81.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. The firm had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. Exact Sciences has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EXAS shares. Wells Fargo & Company raised their price objective on Exact Sciences from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Guggenheim increased their price target on Exact Sciences from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Zacks Research raised Exact Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Cowen reiterated a “buy” rating on shares of Exact Sciences in a research note on Tuesday, November 4th. Finally, TD Cowen raised their target price on shares of Exact Sciences from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $74.06.

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.