M&G PLC Purchases Shares of 192,574 Exact Sciences Corporation $EXAS

M&G PLC acquired a new position in Exact Sciences Corporation (NASDAQ:EXAS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 192,574 shares of the medical research company’s stock, valued at approximately $10,206,000. M&G PLC owned about 0.10% of Exact Sciences as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP lifted its stake in Exact Sciences by 14.3% during the 1st quarter. Allworth Financial LP now owns 2,986 shares of the medical research company’s stock valued at $136,000 after acquiring an additional 373 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Exact Sciences by 24.0% in the first quarter. Cerity Partners LLC now owns 33,598 shares of the medical research company’s stock valued at $1,454,000 after purchasing an additional 6,508 shares during the last quarter. Xponance Inc. lifted its position in shares of Exact Sciences by 4.0% during the first quarter. Xponance Inc. now owns 24,972 shares of the medical research company’s stock valued at $1,081,000 after purchasing an additional 959 shares in the last quarter. CWM LLC boosted its holdings in Exact Sciences by 41.2% during the first quarter. CWM LLC now owns 21,316 shares of the medical research company’s stock worth $923,000 after purchasing an additional 6,217 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after buying an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

Exact Sciences stock opened at $68.37 on Thursday. The firm has a market capitalization of $12.95 billion, a P/E ratio of -12.59, a PEG ratio of 5.56 and a beta of 1.34. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $72.81. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. The business has a fifty day moving average price of $59.24 and a 200-day moving average price of $53.93.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The company had revenue of $850.74 million for the quarter, compared to analyst estimates of $810.42 million. During the same period in the previous year, the company posted ($0.21) EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Exact Sciences has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Transactions at Exact Sciences

In other news, EVP Brian Baranick sold 2,858 shares of the firm’s stock in a transaction that occurred 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 trade represents a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Edward Doyle sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the transaction, the director directly owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

EXAS has been the subject of several recent analyst reports. Zacks Research raised Exact Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Cowen reaffirmed a “buy” rating on shares of Exact Sciences in a research report on Tuesday, November 4th. Piper Sandler boosted their price target on shares of Exact Sciences from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday. Benchmark increased their price target on shares of Exact Sciences from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Royal Bank Of Canada lowered their price objective on shares of Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 7th. Two 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.06.

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.