Toronto Dominion Bank Increases Stake in Exact Sciences Co. (NASDAQ:EXAS)

Toronto Dominion Bank increased its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS – Get Rating) by 51.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,912 shares of the medical research company’s stock after buying an additional 11,514 shares during the period. Toronto Dominion Bank’s holdings in Exact Sciences were worth $2,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EXAS. ARK Investment Management LLC increased its stake in Exact Sciences by 15.1% during the 4th quarter. ARK Investment Management LLC now owns 13,496,014 shares of the medical research company’s stock worth $1,050,395,000 after buying an additional 1,767,385 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Exact Sciences by 25.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,883,180 shares of the medical research company’s stock worth $457,888,000 after acquiring an additional 1,203,450 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Exact Sciences by 29.5% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 4,200,416 shares of the medical research company’s stock worth $382,448,000 after acquiring an additional 955,854 shares in the last quarter. Spyglass Capital Management LLC grew its holdings in Exact Sciences by 36.6% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,256,003 shares of the medical research company’s stock worth $215,335,000 after acquiring an additional 604,182 shares in the last quarter. Finally, Capital World Investors grew its holdings in Exact Sciences by 6.9% during the 3rd quarter. Capital World Investors now owns 5,969,312 shares of the medical research company’s stock worth $569,771,000 after acquiring an additional 383,649 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:EXAS opened at $60.98 on Friday. The stock has a market cap of $10.62 billion, a P/E ratio of -17.62 and a beta of 1.14. The firm has a fifty day moving average price of $70.35 and a 200 day moving average price of $79.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.76 and a quick ratio of 2.56. Exact Sciences Co. has a 1-year low of $56.77 and a 1-year high of $140.18.

Exact Sciences (NASDAQ:EXAS – Get Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The medical research company reported ($1.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.37). The business had revenue of $473.81 million for the quarter, compared to analyst estimates of $447.56 million. Exact Sciences had a negative return on equity of 16.95% and a negative net margin of 33.71%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. Sell-side analysts expect that Exact Sciences Co. will post -4.33 EPS for the current fiscal year.

Several research firms have commented on EXAS. Wells Fargo & Company lowered their price target on shares of Exact Sciences from $95.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, February 23rd. SVB Leerink lowered their price target on shares of Exact Sciences from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, February 23rd. StockNews.com assumed coverage on shares of Exact Sciences in a report on Thursday, March 31st. They issued a “sell” rating for the company. Robert W. Baird lowered their target price on shares of Exact Sciences from $116.00 to $100.00 in a report on Wednesday, February 23rd. Finally, The Goldman Sachs Group lowered their target price on shares of Exact Sciences from $100.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $116.86.

In other Exact Sciences news, insider D Scott Coward sold 5,815 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $70.10, for a total transaction of $407,631.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sarah Condella sold 938 shares of the company’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $79.55, for a total transaction of $74,617.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,636 shares of company stock valued at $4,443,252. 1.40% of the stock is owned by company insiders.

Exact Sciences Company Profile (Get Rating)

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, a gene expression tests for breast, prostate, and colon cancers; Oncotype Test, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; Oncomap ExTra, that provides a complete biological picture of certain refractory, rare, or aggressive cancers; and Covid-19 testing services.

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