Q2 2023 Earnings Forecast for Exact Sciences Co. (NASDAQ:EXAS) Issued By Zacks Research

Exact Sciences Co. (NASDAQ:EXAS – Get Rating) – Stock analysts at Zacks Research upped their Q2 2023 earnings per share (EPS) estimates for Exact Sciences in a research report issued on Tuesday, May 23rd. Zacks Research analyst R. Anand now forecasts that the medical research company will earn ($0.65) per share for the quarter, up from their previous forecast of ($0.69). The consensus estimate for Exact Sciences’ current full-year earnings is ($2.24) per share. Zacks Research also issued estimates for Exact Sciences’ Q4 2023 earnings at ($0.61) EPS, FY2023 earnings at ($2.41) EPS, Q1 2024 earnings at ($0.55) EPS, Q2 2024 earnings at ($0.69) EPS, Q3 2024 earnings at ($0.66) EPS, Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($2.19) EPS, Q1 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.90) EPS.

Exact Sciences (NASDAQ:EXAS – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The medical research company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.37. Exact Sciences had a negative return on equity of 16.64% and a negative net margin of 23.49%. The business had revenue of $602.00 million during the quarter, compared to the consensus estimate of $543.18 million. During the same period in the prior year, the company earned ($1.04) EPS. Exact Sciences’s revenue for the quarter was up 23.7% on a year-over-year basis.

A number of other brokerages have also weighed in on EXAS. Benchmark boosted their target price on shares of Exact Sciences from $54.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, March 15th. Canaccord Genuity Group boosted their price objective on Exact Sciences from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. UBS Group began coverage on Exact Sciences in a research report on Friday, May 5th. They issued a “neutral” rating and a $73.00 target price for the company. Piper Sandler boosted their price target on Exact Sciences from $70.00 to $80.00 in a report on Monday, May 15th. Finally, StockNews.com began coverage on shares of Exact Sciences in a report on Thursday, May 18th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.13.

Exact Sciences Trading Up 1.5 %

Shares of Exact Sciences stock opened at $82.01 on Friday. The firm’s 50 day moving average is $69.78 and its 200 day moving average is $61.01. The firm has a market capitalization of $14.79 billion, a PE ratio of -28.09 and a beta of 1.41. Exact Sciences has a 1 year low of $29.27 and a 1 year high of $85.82. The company has a current ratio of 2.97, a quick ratio of 2.63 and a debt-to-equity ratio of 0.77.

Insider Activity at Exact Sciences

In other Exact Sciences news, CFO Jeffrey Thomas Elliott sold 4,233 shares of Exact Sciences stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $61.12, for a total value of $258,720.96. Following the completion of the sale, the chief financial officer now directly owns 29,241 shares in the company, valued at $1,787,209.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel James Herriott sold 2,225 shares of the business’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $60.43, for a total value of $134,456.75. Following the completion of the sale, the general counsel now directly owns 9,224 shares of the company’s stock, valued at approximately $557,406.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey Thomas Elliott sold 4,233 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $61.12, for a total value of $258,720.96. Following the completion of the sale, the chief financial officer now directly owns 29,241 shares of the company’s stock, valued at approximately $1,787,209.92. The disclosure for this sale can be found here. Insiders have sold a total of 50,170 shares of company stock worth $3,320,986 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Exact Sciences

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its holdings in shares of Exact Sciences by 16.5% in the 1st quarter. American Century Companies Inc. now owns 5,760 shares of the medical research company’s stock worth $403,000 after acquiring an additional 817 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Exact Sciences in the first quarter valued at approximately $742,000. Panagora Asset Management Inc. boosted its position in shares of Exact Sciences by 4.6% during the first quarter. Panagora Asset Management Inc. now owns 7,281 shares of the medical research company’s stock valued at $509,000 after buying an additional 323 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Exact Sciences by 13.5% during the first quarter. Dimensional Fund Advisors LP now owns 448,640 shares of the medical research company’s stock worth $31,377,000 after buying an additional 53,454 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in Exact Sciences by 143.5% in the 1st quarter. Vontobel Holding Ltd. now owns 22,230 shares of the medical research company’s stock valued at $1,585,000 after buying an additional 13,102 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

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.