New York State Common Retirement Fund Reduces Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

New York State Common Retirement Fund cut its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 29.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,162 shares of the medical research company’s stock after selling 86,213 shares during the period. New York State Common Retirement Fund owned about 0.11% of Exact Sciences worth $11,809,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in EXAS. Huntington National Bank lifted its holdings in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Exact Sciences during the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new position in shares of Exact Sciences during the 3rd quarter worth approximately $35,000. Vestor Capital LLC purchased a new stake in Exact Sciences in the 3rd quarter valued at approximately $46,000. Finally, Asset Planning Inc acquired a new stake in Exact Sciences during the 4th quarter valued at $40,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Stock Up 4.1 %

Shares of NASDAQ:EXAS opened at $51.28 on Tuesday. The stock has a 50-day simple moving average of $54.72 and a 200-day simple moving average of $60.00. The stock has a market capitalization of $9.53 billion, a P/E ratio of -9.21 and a beta of 1.24. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. 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 posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million during 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%. Equities analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Evercore ISI cut their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Benchmark reissued a “buy” rating and issued a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. Piper Sandler reduced their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Canaccord Genuity Group lowered their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Sanford C. Bernstein boosted their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.24.

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.