Nordea Investment Management AB Buys 19,249 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Posted by Defense World Staff on May 13th, 2023

Nordea Investment Management AB boosted its stake in Exact Sciences Co. (NASDAQ:EXAS – Get Rating) by 172.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,397 shares of the medical research company’s stock after acquiring an additional 19,249 shares during the period. Nordea Investment Management AB’s holdings in Exact Sciences were worth $1,511,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. boosted its holdings in Exact Sciences by 42.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 549 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 163 shares in the last quarter. Signaturefd LLC boosted its holdings in Exact Sciences by 45.7% in the third quarter. Signaturefd LLC now owns 957 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 300 shares in the last quarter. Quent Capital LLC boosted its holdings in Exact Sciences by 12,014.3% in the fourth quarter. Quent Capital LLC now owns 848 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 841 shares in the last quarter. Baldwin Brothers LLC MA bought a new stake in Exact Sciences in the fourth quarter valued at $47,000. Finally, Wipfli Financial Advisors LLC bought a new stake in shares of Exact Sciences during the 3rd quarter valued at $62,000. Institutional investors own 90.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Exact Sciences from $75.00 to $85.00 in a report on Wednesday. BTIG Research boosted their target price on shares of Exact Sciences from $80.00 to $90.00 in a report on Wednesday. Credit Suisse Group restated a “neutral” rating and set a $70.00 target price on shares of Exact Sciences in a report on Wednesday, February 22nd. Craig Hallum upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating and boosted their target price for the company from $55.00 to $85.00 in a report on Wednesday. Finally, UBS Group assumed coverage on shares of Exact Sciences in a report on Friday, May 5th. They set a “neutral” rating and a $73.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus target price of $78.50.

Insider Activity

In other news, EVP Sarah Condella sold 954 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $65.59, for a total transaction of $62,572.86. Following the completion of the sale, the executive vice president now owns 85,166 shares of the company’s stock, valued at approximately $5,586,037.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Sarah Condella sold 954 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $65.59, for a total value of $62,572.86. Following the completion of the sale, the executive vice president now directly owns 85,166 shares of the company’s stock, valued at approximately $5,586,037.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey Thomas Elliott sold 1,158 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $64.55, for a total transaction of $74,748.90. Following the completion of the sale, the chief financial officer now directly owns 20,549 shares of the company’s stock, valued at $1,326,437.95. The disclosure for this sale can be found here. Insiders sold 75,513 shares of company stock valued at $4,977,321 in the last quarter. 1.30% of the stock is currently owned by insiders.

Exact Sciences Price Performance

NASDAQ EXAS opened at $79.19 on Friday. Exact Sciences Co. has a 52 week low of $29.27 and a 52 week high of $80.75. The firm has a market capitalization of $14.11 billion, a P/E ratio of -22.37 and a beta of 1.41. The company has a quick ratio of 2.09, a current ratio of 2.38 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $66.42 and a 200-day moving average price of $57.76.

Exact Sciences (NASDAQ:EXAS – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.37. Exact Sciences had a negative net margin of 29.92% and a negative return on equity of 19.76%. The firm had revenue of $602.00 million during the quarter, compared to analyst estimates of $543.18 million. During the same quarter in the prior year, the firm earned ($1.04) EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts anticipate that Exact Sciences Co. will post -2.76 earnings per share for the current year.

About Exact Sciences

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EXACT Sciences Corp. is a cancer screening and diagnostics company. The firm focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer and Oncotype DX. The company was founded on February 10, 1995, and is headquartered in Madison, WI.