The Vanguard Group, Inc. recently announced the acquisition of new stake in Exact Sciences Corporation (NASDAQ:EXAS). The institutional investor has increased its shareholding in the Healthcare company by 3.46% to 16.87 million shares with purchase of 0.56 million shares. This fresh investment now brings its stake to 9.47% valued currently at $1.08 billion. In addition, JPMorgan Investment Management, I raised its holdings by 5.36 million to 11.42 million shares. And Wellington Management Co. LLP has lifted its position by 5.71% or 0.59 million shares – to 10.84 million shares.
With over 2.02 million Exact Sciences Corporation (EXAS) shares trading Tuesday and a closing price of $82.00 on the day, the dollar volume was approximately $165.58 million. The shares have shown a positive half year performance of 92.81% and its price on 05/23/23 lost nearly -1.93%. Currently, there are 178.57M common shares owned by the public and among those 176.12M shares have been available to trade.
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Insiders at the company have transacted a total of 82 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 255,076 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 109,453 shares.
The top 3 mutual fund holders in Exact Sciences Corporation are JPMorgan Large Cap Growth Fund, ARK Innovation ETF, and Vanguard Total Stock Market ETF. JPMorgan Large Cap Growth Fund owns 5.96 million shares of the company’s stock, all valued at over $381.92 million. The company bought an additional 0.96 million shares recently to bring their total holdings to about 3.35% of the shares outstanding. ARK Innovation ETF sold 12489.0 shares to see its total holdings shrink to 5.86 million shares valued at over $375.53 million and representing 3.29% of the shares outstanding. Vanguard Total Stock Market ETF bought 39972.0 shares to bring its total holdings to over 5.51 million shares at a value of $353.13 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.09% of the shares outstanding.
Shares of Exact Sciences Corporation (NASDAQ: EXAS) opened at $83.29, down -$0.32 from a prior closing price of $83.61. However, the script later moved the day high at 85.82, down -1.93%. The company’s stock has a 5-day price change of 2.58% and 26.82% over the past three months. EXAS shares are trading 65.62% year to date (YTD), with the 12-month market performance up to 54.22% higher. It has a 12-month low price of $29.27 and touched a high of $84.99 over the same period. EXAS has an average intraday trading volume of 2.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.88%, 19.98%, and 55.80% respectively.
Institutional ownership of Exact Sciences Corporation (NASDAQ: EXAS) shares accounts for 89.30% of the company’s 178.57M shares outstanding. Mutual fund holders own 35.07%, while other institutional holders and individual stakeholders account for 58.34% and 3.99% respectively.
It has a market capitalization of $14.45B and a beta (3y monthly) value of 1.36. The earnings-per-share (ttm) stands at -$2.92. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.57% over the week and 3.56% over the month.
Analysts forecast that Exact Sciences Corporation (EXAS) will achieve an EPS of -$0.52 for the current quarter, -$0.53 for the next quarter and -$1.33 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.65 while analysts give the company a high EPS estimate of -$0.33. Comparatively, EPS for the current quarter was -$0.94 a year ago. Earnings per share for the fiscal year are expected to decrease by -1.70%, and 34.60% over the next financial year.
