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Exact Sciences (EXAS) Stock Moves -0.89%: What You Should Know

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Exact Sciences (EXAS - Free Report) ended the recent trading session at $73.60, demonstrating a -0.89% swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.95% loss on the day. Elsewhere, the Dow lost 1.09%, while the tech-heavy Nasdaq lost 0.84%.

The the stock of molecular diagnostics company has risen by 22.34% in the past month, leading the Medical sector's loss of 3.76% and the S&P 500's gain of 1.78%.

Analysts and investors alike will be keeping a close eye on the performance of Exact Sciences in its upcoming earnings disclosure. The company's earnings report is set to go public on May 8, 2024. The company's earnings per share (EPS) are projected to be -$0.50, reflecting a 19.05% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $624.95 million, up 3.73% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.86 per share and revenue of $2.83 billion. These totals would mark changes of +23.89% and +13.31%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Exact Sciences. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Exact Sciences currently has a Zacks Rank of #2 (Buy).

The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 250 industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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