Principal Financial Group Inc. Increases Stake in EXACT Sciences Co. (EXAS)
Principal Financial Group Inc. lifted its holdings in EXACT Sciences Co. (NASDAQ:EXAS) by 7.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 187,778 shares of the medical research company’s stock after acquiring an additional 13,799 shares during the quarter. Principal Financial Group Inc.’s holdings in EXACT Sciences were worth $7,573,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of EXACT Sciences in the 1st quarter worth approximately $135,000. Bronfman E.L. Rothschild L.P. lifted its position in EXACT Sciences by 160.8% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,464 shares of the medical research company’s stock valued at $140,000 after acquiring an additional 2,136 shares during the last quarter. Sandy Spring Bank lifted its position in EXACT Sciences by 50.2% during the first quarter. Sandy Spring Bank now owns 4,672 shares of the medical research company’s stock valued at $188,000 after acquiring an additional 1,562 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in EXACT Sciences during the first quarter valued at approximately $202,000. Finally, Private Advisor Group LLC purchased a new stake in EXACT Sciences during the first quarter valued at approximately $227,000. 87.15% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. Cowen increased their target price on shares of EXACT Sciences from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, June 18th. Bank of America increased their target price on shares of EXACT Sciences from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Canaccord Genuity increased their target price on shares of EXACT Sciences from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 15th. Leerink Swann reissued an “outperform” rating and set a $76.00 target price (up previously from $67.00) on shares of EXACT Sciences in a research report on Wednesday, July 18th. Finally, BidaskClub raised shares of EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $65.73.
NASDAQ EXAS opened at $48.84 on Friday. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of -49.19 and a beta of 1.00. EXACT Sciences Co. has a 12-month low of $37.30 and a 12-month high of $71.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 15.79 and a quick ratio of 15.37.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, August 1st. The medical research company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.03. The business had revenue of $102.89 million during the quarter, compared to analysts’ expectations of $104.40 million. EXACT Sciences had a negative net margin of 35.24% and a negative return on equity of 20.10%. The business’s quarterly revenue was up 78.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) earnings per share. equities analysts anticipate that EXACT Sciences Co. will post -1.31 earnings per share for the current year.
EXACT Sciences Profile
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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