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Time to buy these 3 healthcare companies that raised revenue guidance?
Exact SciencesExact Sciences(US:EXAS) MarketBeatยท2024-01-16 14:00

Company Overview - Exact Sciences Co. specializes in FDA-approved cancer screening and diagnostic tests, with Cologuard being its leading product for colorectal cancer detection [3] - The company has a diverse portfolio of cancer tests, including Oncotype DX for breast cancer, CancerSEEK for early detection of multiple cancers, and Oncoguard Liver for liver cancer [4] Pipeline and Development - Exact Sciences is developing Cancerguard, a test for early-stage cancer detection, and the next-gen Cologuard, which is undergoing a large clinical trial with over 20,000 participants [5] - The company is also working on a colorectal cancer blood test aimed at 44 million Americans needing screening [5] Financial Performance - For Q3 2023, Exact Sciences reported breakeven EPS, beating analyst estimates by 47 cents, and revenues increased by 20.1% to $628.34 million, surpassing the consensus estimate of $616.79 million [6] - The company raised its full-year 2023 revenue guidance to between $2.476 billion and $2.486 billion, exceeding the previous consensus estimate of $2.46 billion [6] Future Guidance - On January 8, 2024, Exact Sciences provided an upside Q4 2023 revenue guidance of $645.5 million to $647.5 million, reflecting a 17% year-over-year increase, compared to the consensus estimate of $631.48 million [6] - The company anticipates full-year 2023 revenues to align with consensus estimates at $2.83 billion [6] Competitor Analysis - Hologic reported Q4 2023 EPS of 89 cents, with a 5.5% year-over-year revenue decline to $945.3 million, although organic revenue growth was 17.5% excluding COVID-related revenues [9] - Amicus Therapeutics reported a 26.7% revenue increase to $103.5 million for Q3 2023, raising its full-year revenue guidance for Galafold to 16% to 18% growth [13][14]