Thrivent Financial for Lutherans Takes Position in Exact Sciences Co. (NASDAQ:EXAS)

Thrivent Financial for Lutherans purchased a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 120,555 shares of the medical research company’s stock, valued at approximately $6,774,000. Thrivent Financial for Lutherans owned about 0.07% of Exact Sciences as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment purchased a new position in shares of Exact Sciences in the 3rd quarter worth approximately $821,000. ArrowMark Colorado Holdings LLC bought a new position in Exact Sciences in the 3rd quarter valued at $28,608,000. Iron Triangle Partners LP purchased a new stake in shares of Exact Sciences during the 3rd quarter valued at $27,239,000. Erste Asset Management GmbH bought a new stake in shares of Exact Sciences during the 3rd quarter worth $26,546,000. Finally, Bellevue Group AG boosted its holdings in shares of Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after buying an additional 290,585 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $45.62 on Monday. The company’s 50 day simple moving average is $50.55 and its two-hundred day simple moving average is $58.28. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The stock has a market capitalization of $8.47 billion, a PE ratio of -8.19 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EXAS shares. Royal Bank of Canada began coverage on shares of Exact Sciences in a report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price objective for the company. Bank of America lowered their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Barclays reduced their price objective on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. William Blair restated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Finally, Piper Sandler cut their price target on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.83.

Exact Sciences 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.