The Manufacturers Life Insurance Company Acquires 1,494 Shares of Exact Sciences Co. (NASDAQ:EXAS)

The Manufacturers Life Insurance Company increased its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 138,086 shares of the medical research company’s stock after purchasing an additional 1,494 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Exact Sciences were worth $7,759,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Exact Sciences by 29.1% during the fourth quarter. GAMMA Investing LLC now owns 3,674 shares of the medical research company’s stock worth $206,000 after purchasing an additional 828 shares during the period. Everence Capital Management Inc. acquired a new position in Exact Sciences in the 4th quarter valued at $356,000. Diversified Trust Co lifted its position in shares of Exact Sciences by 5.9% during the 4th quarter. Diversified Trust Co now owns 12,639 shares of the medical research company’s stock valued at $710,000 after acquiring an additional 708 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of 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 valued at $5,385,000 after acquiring an additional 24,992 shares during the period. Finally, Kieckhefer Group LLC bought a new position in shares of Exact Sciences in the fourth quarter worth $188,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. 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. Evercore ISI increased their price target on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Benchmark restated a “buy” rating and set a $65.00 price objective on shares of Exact Sciences in a research report on Monday, January 13th. Scotiabank raised their target price on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Finally, Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and an average price target of $70.90.

Exact Sciences Trading Up 1.4 %

NASDAQ:EXAS opened at $54.06 on Wednesday. Exact Sciences Co. has a 52 week low of $39.97 and a 52 week high of $72.83. The firm’s fifty day moving average is $45.24 and its 200-day moving average is $53.07. The firm has a market cap of $10.19 billion, a P/E ratio of -9.70 and a beta of 0.92. 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 issued its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The business had revenue of $706.79 million for the quarter, compared to analysts’ expectations of $688.58 million. During the same quarter in the prior year, the firm posted ($0.60) earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts expect 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.