Capital World Investors Sells 2,059,161 Shares of Exact Sciences Corporation $EXAS

Capital World Investors decreased its position in Exact Sciences Corporation (NASDAQ:EXAS) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,140,861 shares of the medical research company’s stock after selling 2,059,161 shares during the quarter. Capital World Investors owned approximately 0.09% of Exact Sciences worth $883,053,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Westside Investment Management Inc. boosted its holdings in Exact Sciences by 100.0% during the third quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after purchasing an additional 271 shares during the last quarter. Country Trust Bank purchased a new position in shares of Exact Sciences in the 2nd quarter worth approximately $32,000. Quent Capital LLC purchased a new position in shares of Exact Sciences in the 3rd quarter worth approximately $48,000. OFI Invest Asset Management grew its holdings in shares of Exact Sciences by 241.2% in the third quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 767 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Exact Sciences by 463.0% during the second quarter. China Universal Asset Management Co. Ltd. now owns 1,216 shares of the medical research company’s stock valued at $65,000 after acquiring an additional 1,000 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $103.37 on Wednesday. The stock’s 50-day simple moving average is $102.72 and its two-hundred day simple moving average is $82.91. The firm has a market capitalization of $19.73 billion, a P/E ratio of -93.97, a P/E/G ratio of 2.36 and a beta of 1.41. The company has a quick ratio of 2.17, a current ratio of 2.43 and a debt-to-equity ratio of 0.97. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $103.75.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The company’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. As a group, equities analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

EXAS has been the topic of a number of recent analyst reports. Zacks Research lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Leerink Partners lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Canaccord Genuity Group cut Exact Sciences from a “buy” rating to a “hold” rating and lifted their target price for the stock from $85.00 to $105.00 in a research note on Tuesday, November 25th. Mizuho reissued a “neutral” rating and issued a $105.00 price target (up from $85.00) on shares of Exact Sciences in a report on Tuesday, January 20th. Finally, Robert W. Baird set a $105.00 price objective on shares of Exact Sciences in a report on Thursday, November 20th. Twenty-one research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $92.13.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.