EXEL Exelixis, Inc. - Common Stock
$54.24
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$34–$58
86% of range
Analyst Rating
HOLD
26 analysts
Price Target
$53
P/E (TTM)
18.9
ROE
37.3%
Net Profit Margin
33.7%
About Exelixis, Inc. - Common Stock Company overview from Wikipedia
Exelixis, Inc. is a genomics-based drug discovery company located in Alameda, California, and the producer of Cometriq, a treatment approved by the U.S. Food and Drug Administration (FDA) for medullary thyroid cancer with clinical activity in several other types of metastatic cancer.
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Exelixis, Inc. is a genomics-based drug discovery company located in Alameda, California, and the producer of Cometriq, a treatment approved by the U.S. Food and Drug Administration (FDA) for medullary thyroid cancer with clinical activity in several other types of metastatic cancer.
History
Exelixis was founded in 1994; the scientific founders were Spyridon Artavanis–Tsakonas, at Yale at that time, and Corey Goodman and Gerry Rubin who were then at the University of California, Berkeley. George Scangos joined the company as CEO in 1996. The business plan was to use model organisms (fruit flies, nematodes, and zebrafish) and functional genomics to identify pathways and biological targets that could be exploited in the fields of agriculture and medicine. It eventually set up a subsidiary, Exelixis Plant Sciences, for the agricultural work.
By 2000, Exelixis had left the radical exploratory phase behind and became focused on drug discovery and had a chemical library of 4 million compounds. The company went public that year, after withdrawing its offering the week before; it raised $118 million in a down market.
In 2002, the company signed a broad alliance with GSK to discover new drugs in the fields of cancer, inflammatory diseases, and vascular conditions; GSK paid it $30 million in cash, bought $14 million in stock at twice the market rate, and committed to providing Exelixis with $90 million in research funding; it also offered loan financing of up to $85 million.
By 2002, the company had limited its internal efforts to cancer, and had settled its strategy on discovering and developing drugs that could inhibit targeted small sets of tyrosine kinases that are needed for cancer formation, growth, and metastasis. The sets of TKs had been identified by means of its prior functional genomics work. This approach was controversial at the time; most companies try to selectively target just one protein in their discovery efforts.
In 2006, Exelixis partnered with Daiichi Sankyo on compounds that targeted mineralocorticoid receptors; esaxerenone was part of this collaboration. In 2007, the company partnered its MEK inhibitor program with Genentech; cobimetinib (at that time XL-518) was part of this collaboration. Exelixis had filed an IND on XL-518 prior to the partnership, committed to funding and running the Phase I trial, and retained rights to co-market it in the US.
In 2008, the company partnered its lead cancer drug candidate, XL-184 (which would become called cabozantinib) and another cancer candidate, XL-281, with Bristol Myers Squibb; BMS returned the rights to XL-184 to Exelixis in 2010 and returned the rights to other drug candidate in 2011.
In 2010, Scangos departed as CEO to take over at Biogen and the company appointed Michael M. Morrissey as president and CEO; Morrissey had joined the company in 2000 as Vice President of Discovery Research. At that time the company had eight drugs in clinical trials.
Exelixis' first drug approval came in 2012, when cabozantinib was approved for medullary thyroid cancer, an orphan indication. It was approved in Europe in 2014.
Exelixis invested heavily in exploring cabozantinib in other cancers, betting the future of the company on the drug. In 2014 the drug failed a Phase III trial in prostate cancer, and the company laid off 70% of its employees.
In 2015, Genentech and Exelixis won FDA approval for cobimetinib for certain forms of melanoma.
In March 2016, Exelixis licensed to Ipsen worldwide rights (outside the US, Canada, and Japan) to market cabozantinib.
In April 2016, the FDA granted approval for marketing the tablet formulation as a second line treatment for kidney cancer and the same was approved in Europe in October of that year.
In December 2017, the FDA granted approval for the use of cabozantinib for first line treatment of kidney cancer and in 2018 approval for first-line treatment was approved in Europe.
Finance
Pricing
Cabometyx (cabozantinib)
In 2023, the Institute for Clinical and Economic Review (ICER) identified Cabometyx (cabozantinib) as one of five high-expenditure drugs that experienced significant net price increases without new clinical evidence to justify the hikes. Specifically, Cabometyx's wholesale acquisition cost rose by 7.5%, leading to an additional $86 million in costs to U.S. payers.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
EXEL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$54.24
Market Cap
$13.76B
P/E (TTM)
18.9
EPS (TTM)
$2.78
Revenue (TTM)
$2.32B
Div Yield
—
ROE
37.3%
Debt/Equity
—
52W Range
$34 – $58
EXEL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$2.32B
2016-12-31
→
2026-01-02
EPS
$2.78
2017-12-29
→
2026-01-02
Free Cash Flow
$876M
2017-12-29
→
2026-01-02
Margins
33.7%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
EXEL
Peer Median
P/E (TTM)
18.9
28.5
P/S (TTM)
5.9
20.1
P/B
6.4
12.9
Price / FCF
15.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
EXEL
Peer Median
Operating Margin
37.6%
—
Net Profit Margin
33.7%
-48.4%
ROA
27.0%
-28.4%
ROE
37.3%
-49.2%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
EXEL
Peer Median
Current Ratio
3.6
5.0
Quick Ratio
3.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
EXEL
Peer Median
Revenue YoY
7.0%
—
Revenue CAGR 3Y
12.9%
—
Revenue CAGR 5Y
18.6%
—
EPS YoY
58.0%
—
Net Income YoY
50.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
EXEL
Peer Median
EXEL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
26 analysts
- Strong Buy 5 19.2%
- Buy 8 30.8%
- Hold 12 46.2%
- Sell 1 3.8%
- Strong Sell 0 0.0%
12-Month Price Target
16 analysts · 2026-08-13
Median
$52.00
Now
$54.24
Low
$41.00
High
$66.00
Median target
$52.00
-4.1%
Mean target
$52.94
-2.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.82 | $0.80 | 0.02% |
| March 31, 2026 | $0.79 | $0.72 | 0.07% |
| Dec. 31, 2025 | $0.88 | $0.82 | 0.06% |
| Sept. 30, 2025 | $0.69 | $0.63 | 0.06% |
| June 30, 2025 | $0.65 | $0.57 | 0.08% |
| March 31, 2025 | $0.55 | $0.37 | 0.18% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| EXEL | $11.44B | 15.7 | 7.0% | 33.7% | 37.3% | — |
| UTHR | $21.27B | 17.5 | 10.6% | 41.9% | 18.7% | 87.9% |
| NBIX | $14.20B | 30.4 | 21.4% | 16.7% | 16.1% | — |
| BBIO | $14.90B | -20.2 | 126.3% | -146.0% | 41.2% | — |
| BMRN | $11.43B | 33.0 | 12.9% | 10.8% | 5.8% | — |
| ARWR | $4.68B | -3449.0 | 23258.2% | -0.20% | -0.50% | — |
| MDGL | $13.30B | -45.3 | 432.1% | -30.1% | -44.4% | — |
| HALO | $7.93B | 26.3 | 37.5% | 22.7% | 166.1% | — |
| PRAX | $7.43B | -21.9 | 249.5% | — | -47.3% | — |
| CYTK | $7.81B | -9.7 | 376.6% | -891.6% | 152.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.32B | $2.17B | $1.83B | $1.61B | $1.43B | $988M | $968M | $854M | $452M | $191M | $37M | |
| Cost of Revenue | $84M | $76M | $73M | $58M | $53M | $36M | $33M | $26M | $15M | $7M | $4M | |
| R&D Expense | $825M | $910M | $1.04B | $892M | $694M | $548M | $337M | $182M | $112M | $96M | $96M | |
| SG&A Expense | $519M | $492M | $543M | $460M | $402M | $293M | $228M | $206M | $159M | $116M | $57M | |
| Operating Expenses | $1.45B | $1.56B | $1.66B | $1.41B | $1.15B | $877M | $598M | $415M | $287M | $220M | $159M | |
| Operating Income | $872M | $605M | $171M | $201M | $287M | $110M | $369M | $439M | $166M | $-28M | $-121M | |
| Interest Expense | · | · | · | · | · | · | $0 | $0 | $9M | $33M | $41M | |
| Other Non-op | $-198.0K | $-133.0K | $93.0K | $-197.0K | $-184.0K | $912.0K | $680.0K | $397.0K | $-4M | $5M | $-381.0K | |
| Pretax Income | · | · | · | · | · | $131M | $398M | $452M | $159M | $-70M | $-162M | |
| Income Tax | $159M | $160M | $50M | $52M | $63M | $19M | $77M | $-238M | $4M | $0 | $55.0K | |
| Net Income | $783M | $521M | $208M | $182M | $231M | $112M | $321M | $690M | $154M | $-70M | $-162M | |
| EPS (Basic) | $2.88 | $1.80 | $0.65 | $0.57 | $0.73 | $0.36 | $1.06 | $2.32 | $0.52 | · | $-0.77 | |
| EPS (Diluted) | $2.78 | $1.76 | $0.65 | $0.56 | $0.72 | $0.35 | $1.02 | $2.21 | $0.49 | · | $-0.77 | |
| Shares (Basic) | 271,567,000 | 290,030,000 | 318,151,000 | 321,526,000 | 314,884,000 | 308,271,000 | 302,584,000 | 297,892,000 | 293,588,000 | · | 209,227,000 | |
| Shares (Diluted) | 281,863,000 | 296,132,000 | 321,464,000 | 324,556,000 | 322,359,000 | 318,001,000 | 315,009,000 | 312,803,000 | 312,003,000 | · | 209,227,000 | |
| EBITDA | $901M | $633M | $197M | $222M | $300M | $119M | $378M | $444M | $167M | · | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $482M | $217M | $263M | $501M | $647M | $319M | $267M | $315M | $183M | $152M | $142M | |
| Short-term Investments | $577M | $894M | $732M | $807M | $820M | $887M | $586M | $379M | $205M | $268M | · | |
| Receivables | $287M | $265M | $237M | $215M | $283M | $161M | $119M | $163M | $77M | $40M | · | |
| Inventory | $22M | $22M | $17M | $33M | $27M | $21M | $13M | $10M | $7M | $3M | · | |
| Prepaid Expense | $76M | $68M | $68M | $62M | $58M | $57M | $27M | $31M | $9M | $5M | · | |
| Current Assets | $1.44B | $1.47B | $1.32B | $1.62B | $1.83B | $1.45B | $1.01B | $897M | $485M | $469M | · | |
| PP&E (Net) | $99M | $119M | $129M | $111M | $104M | $67M | $49M | $51M | $26M | $2M | · | |
| PP&E (Gross) | $231M | $220M | $209M | $171M | $145M | $102M | $74M | $68M | $49M | $27M | · | |
| Accum. Depreciation | $132M | $101M | $80M | $61M | $41M | $35M | $26M | $17M | $23M | $25M | · | |
| Goodwill | $64M | $64M | $64M | $64M | $64M | $64M | $64M | $64M | $64M | $64M | · | |
| Other Non-current Assets | · | · | · | · | $131M | $73M | $53M | $8M | $12M | $1M | · | |
| Total Assets | $2.84B | $2.95B | $2.94B | $3.07B | $2.62B | $2.14B | $1.89B | $1.42B | $655M | $596M | · | |
| Accounts Payable | $30M | $38M | $34M | $33M | $24M | $24M | $12M | $11M | $10M | $7M | · | |
| Short-term Debt | · | · | · | · | · | · | · | · | $0 | $80M | · | |
| Current Liabilities | $406M | $404M | $394M | $324M | $338M | $205M | $143M | $105M | $115M | $269M | · | |
| Capital Leases | $173M | $191M | $190M | $190M | $51M | $49M | $48M | $12M | $15M | · | · | |
| Other Non-current Liabilities | $104M | $109M | $94M | $69M | $8M | $721.0K | $2M | $1M | $2M | $541.0K | · | |
| Total Liabilities | $683M | $703M | $678M | $583M | $406M | $258M | $200M | $135M | $370M | $506M | · | |
| Long-term Debt | · | · | · | · | · | · | · | · | $0 | $189M | · | |
| Total Debt | · | · | · | · | · | · | · | · | $0 | · | · | |
| Common Stock | $262.0K | $282.0K | $303.0K | $324.0K | $319.0K | $312.0K | $305.0K | $300.0K | $296.0K | $290.0K | · | |
| Paid-in Capital | $2.23B | $2.34B | $2.44B | $2.54B | $2.43B | $2.32B | $2.24B | $2.17B | $2.11B | $2.07B | · | |
| Retained Earnings | $-77M | $-99M | $-173M | $-34M | $-217M | $-448M | $-559M | $-880M | $-1.83B | $-1.98B | · | |
| AOCI | $3M | $-1M | $-4M | $-15M | $-758.0K | $4M | $3M | $-701.0K | $-347.0K | $-416.0K | · | |
| Stockholders' Equity | $2.16B | $2.24B | $2.26B | $2.49B | $2.21B | $1.88B | $1.69B | $1.29B | $285M | $89M | $-141M | |
| Liabilities + Equity | $2.84B | $2.95B | $2.94B | $3.07B | $2.62B | $2.14B | $1.89B | $1.42B | $655M | $596M | · | |
| Shares Outstanding | 262,483,000 | 281,732,000 | 302,793,000 | 323,951,000 | 318,842,000 | 311,627,000 | 304,831,000 | 299,876,000 | 296,209,000 | 289,923,798 | 227,960,943 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $29M | $29M | $26M | $21M | $14M | $9M | $8M | $5M | $1M | $1M | $1M | |
| Stock-based Comp | $113M | $94M | $106M | $108M | $120M | $105M | $57M | $41M | $24M | $23M | $22M | |
| Deferred Tax | $126M | $-59M | $-133M | $-60M | $47M | $15M | $71M | $-244M | $0 | $0 | $0 | |
| Restructuring | $21M | $34M | $0 | $0 | · | · | · | $0 | $-32.0K | $63M | $1M | |
| Other Non-cash | $-167M | $116M | $127M | $112M | $-10M | $-32M | $70M | $-76M | $-14M | · | · | |
| Operating Cash Flow | $884M | $700M | $333M | $363M | $401M | $209M | $527M | $416M | $166M | $206M | $-141M | |
| CapEx | $8M | $28M | $40M | $28M | $54M | $30M | $13M | $33M | $21M | $2M | $447.0K | |
| Investing Cash Flow | $350M | $-117M | $-27M | $-524M | $-43M | $-131M | $-587M | $-298M | $37M | $-216M | $50M | |
| Net Debt Issued | · | · | · | · | · | · | $0 | $0 | $-186M | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | $0 | $0 | $146M | |
| Stock Repurchased | $948M | $652M | $550M | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | $-948M | $-652M | $-550M | · | · | · | · | · | $0 | · | · | |
| Financing Cash Flow | $-970M | $-629M | $-546M | $586.0K | $-15M | $-25M | $13M | $10M | $-170M | $20M | $152M | |
| Net Change in Cash | $265M | $-46M | $-240M | $-161M | $343M | $53M | $-48M | $128M | $32M | $10M | $61M | |
| Taxes Paid | $155M | $170M | $186M | $128M | $13M | $4M | $8M | $11M | $538.0K | · | · | |
| Free Cash Flow | $876M | $672M | $293M | $335M | $337M | $179M | $514M | $382M | $144M | · | · | |
| Levered FCF | · | · | · | · | · | · | $514M | $382M | $136M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 37.6% | 27.9% | 9.3% | 12.5% | 20.0% | 11.1% | 38.2% | 51.4% | 36.7% | · | · | |
| Net Margin | 33.7% | 24.0% | 11.3% | 11.3% | 16.1% | 11.3% | 33.2% | 80.8% | 34.1% | · | · | |
| Pretax Margin | · | · | · | · | · | 13.2% | 41.1% | 52.9% | 35.0% | · | · | |
| EBITDA Margin | 38.8% | 29.2% | 10.7% | 13.8% | 20.9% | 12.1% | 39.0% | 52.0% | 36.9% | · | · | |
| ROA | 27.0% | 17.7% | 6.9% | 6.4% | 9.7% | 5.6% | 19.4% | 66.4% | 24.7% | · | · | |
| ROE | 37.3% | 23.1% | 9.0% | 7.3% | 10.7% | 6.0% | 19.5% | 62.6% | 82.4% | · | · | |
| ROIC | · | · | · | · | · | 5.0% | 17.7% | 52.0% | 56.6% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.6 | 3.6 | 3.3 | 5.0 | 5.4 | 7.1 | 7.1 | 8.5 | 4.2 | · | · | |
| Quick Ratio | 3.3 | 3.4 | 3.1 | 4.7 | 5.2 | 6.7 | 6.8 | 8.1 | 4.1 | · | · | |
| Debt / Equity | · | · | · | · | · | · | · | · | 0.0 | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | 19.1 | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.8 | 0.7 | 0.6 | 0.6 | 0.6 | 0.5 | 0.6 | 0.8 | 0.7 | · | · | |
| Inventory Turnover | 3.8 | 3.8 | 2.9 | 1.9 | 2.2 | 2.1 | 2.9 | 3.2 | 3.0 | · | · | |
| Receivables Turnover | 8.4 | 8.6 | 8.1 | 6.5 | 6.5 | 7.1 | 6.9 | 9.8 | 7.4 | · | · |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 7.0% | 18.5% | 13.6% | 12.3% | 45.3% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 12.9% | 14.8% | 22.8% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 18.6% | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 58.0% | 170.8% | 16.1% | -22.2% | 105.7% | · | · | · | · | · | · | |
| EPS CAGR 3Y | 70.6% | 34.7% | 22.9% | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 51.3% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 50.1% | 150.9% | 14.0% | -21.1% | 106.7% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 62.5% | 31.1% | 22.9% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 47.6% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.32B | $2.17B | $1.83B | $1.61B | $1.43B | $988M | $968M | $854M | $452M | · | $37M | |
| Net Income TTM | $783M | $521M | $208M | $182M | $231M | $112M | $321M | $690M | $154M | · | $-162M | |
| Market Cap | $11.44B | $9.57B | $7.26B | $5.20B | $5.83B | $6.25B | $5.19B | $5.83B | $9.00B | · | · | |
| Enterprise Value | · | · | · | · | · | · | · | · | $8.62B | · | · | |
| P/E | 15.7 | 19.3 | 36.9 | 28.6 | 25.4 | 57.3 | 16.7 | 8.8 | 62.0 | · | -7.3 | |
| P/S | 4.9 | 4.4 | 4.0 | 3.2 | 4.1 | 6.3 | 5.4 | 6.8 | 19.9 | · | · | |
| P/B | 5.3 | 4.3 | 3.2 | 2.1 | 2.6 | 3.3 | 3.1 | 4.5 | 31.6 | · | · | |
| P / Tangible Book | 5.5 | 4.4 | 3.3 | 2.1 | 2.7 | 3.4 | · | · | · | · | · | |
| P / Cash Flow | 12.9 | 13.7 | 21.8 | 14.3 | 14.5 | 29.9 | 9.8 | 14.0 | 54.4 | · | · | |
| P / FCF | 13.1 | 14.3 | 24.8 | 15.5 | 17.3 | 35.0 | 10.1 | 15.2 | 62.3 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | · | 51.6 | · | · | |
| EV / FCF | · | · | · | · | · | · | · | · | 59.6 | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | 19.0 | · | · | |
| Earnings Yield | 6.4% | 5.2% | 2.7% | 3.5% | 3.9% | 1.7% | 6.0% | 11.4% | 1.6% | · | -13.7% |
Income Statement 14
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $629M | $611M | $718M | $598M | $568M | $555M | $818M | $540M | $637M | $425M | $480M | $472M | $470M | $409M | $424M | $412M | |
| Cost of Revenue | $21M | $20M | $27M | $19M | $19M | $19M | $25M | $17M | $18M | $21M | $22M | $19M | $18M | $14M | $16M | $15M | |
| R&D Expense | $212M | $200M | $164M | $199M | $200M | $212M | $111M | $223M | $211M | $228M | $245M | $333M | $233M | $234M | $337M | $199M | |
| SG&A Expense | $148M | $140M | $161M | $124M | $135M | $137M | $81M | $112M | $132M | $114M | $131M | $138M | $142M | $131M | $119M | $115M | |
| Operating Expenses | $380M | $359M | $287M | $361M | $355M | $369M | $303M | $403M | $361M | $396M | $398M | $490M | $392M | $380M | $472M | $329M | |
| Operating Income | $248M | $251M | $431M | $237M | $214M | $187M | $516M | $136M | $276M | $29M | $82M | $-18M | $78M | $29M | $-48M | $83M | |
| Other Non-op | $54.0K | $219.0K | $207.0K | $-49.0K | $50.0K | $-245.0K | $-363.0K | $-29.0K | $-287.0K | $-89.0K | $-137.0K | $289.0K | $-5.0K | $-54.0K | $-337.0K | $-69.0K | |
| Income Tax | $51M | $57M | $43M | $59M | $46M | $46M | $128M | $37M | $67M | $12M | $18M | $5M | $19M | $8M | $-1M | $19M | |
| Net Income | $212M | $210M | $401M | $194M | $185M | $160M | $399M | $118M | $226M | $37M | $86M | $1M | $81M | $40M | $-30M | $73M | |
| EPS (Basic) | $0.85 | $0.81 | $1.57 | $0.72 | $0.68 | $0.57 | $1.43 | $0.41 | $0.78 | $0.12 | $0.28 | $0.00 | $0.25 | $0.12 | $-0.09 | $0.23 | |
| EPS (Diluted) | $0.82 | $0.79 | $1.49 | $0.69 | $0.65 | $0.55 | $1.39 | $0.40 | $0.77 | $0.12 | $0.28 | $0.00 | $0.25 | $0.12 | $-0.09 | $0.23 | |
| Shares (Basic) | 250,808,000 | 258,329,000 | -604,028,000 | 268,421,000 | 272,583,000 | 278,804,000 | -674,091,000 | 285,622,000 | 289,216,000 | 300,757,000 | -645,970,000 | 315,496,000 | 324,205,000 | 324,420,000 | 577,000 | 322,148,000 | |
| Shares (Diluted) | 259,675,000 | 267,322,000 | -609,119,000 | 278,535,000 | 284,393,000 | 288,177,000 | -676,699,000 | 291,478,000 | 293,974,000 | 305,530,000 | -651,367,000 | 319,247,000 | 327,305,000 | 326,279,000 | 136,000 | 325,066,000 | |
| EBITDA | $248M | $258M | · | $237M | $214M | $194M | · | $136M | $276M | $36M | · | $-18M | $78M | $36M | · | $83M |
Balance Sheet 24
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $281M | $226M | $482M | $376M | $164M | $184M | $217M | $258M | $198M | $260M | · | $397M | $464M | $541M | · | $675M | |
| Short-term Investments | $558M | $551M | $577M | $612M | $627M | $848M | $894M | $931M | $804M | $704M | · | $707M | $802M | $773M | · | $872M | |
| Receivables | $322M | $329M | $287M | $310M | $292M | $282M | $265M | $270M | $397M | $241M | · | $248M | $233M | $234M | · | $215M | |
| Inventory | $29M | $27M | $22M | $27M | $23M | $25M | $22M | $21M | $21M | $21M | · | $25M | $29M | $30M | · | $27M | |
| Prepaid Expense | $60M | $76M | $76M | $77M | $74M | $59M | $68M | $70M | $58M | $67M | · | $67M | $62M | $61M | · | $53M | |
| Current Assets | $1.25B | $1.21B | $1.44B | $1.40B | $1.18B | $1.40B | $1.47B | $1.55B | $1.48B | $1.29B | · | $1.44B | $1.59B | $1.64B | · | $1.84B | |
| PP&E (Net) | $93M | $96M | $99M | $105M | $110M | $115M | $119M | $124M | $130M | $127M | · | $121M | $115M | $116M | · | $108M | |
| PP&E (Gross) | · | · | $231M | · | · | · | $220M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $132M | · | · | · | $101M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $64M | $64M | $64M | $64M | $64M | $64M | $64M | $64M | $64M | $64M | · | $64M | $64M | $64M | · | $64M | |
| Other Non-current Assets | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $280M | |
| Total Assets | $2.49B | $2.59B | $2.84B | $2.82B | $2.68B | $2.84B | $2.95B | $2.96B | $2.77B | $2.80B | · | $2.98B | $3.14B | $3.14B | · | $2.96B | |
| Accounts Payable | $39M | $24M | $30M | $25M | $26M | $43M | $38M | $59M | $29M | $26M | · | $26M | $26M | $33M | · | $31M | |
| Current Liabilities | $362M | $371M | $406M | $374M | $336M | $399M | $404M | $394M | $346M | $373M | · | $377M | $340M | $328M | · | $302M | |
| Capital Leases | $166M | $170M | $173M | $176M | $180M | $187M | $191M | $194M | $198M | $201M | · | $191M | $195M | $187M | · | $160M | |
| Other Non-current Liabilities | $123M | $117M | $104M | $113M | $129M | $120M | $109M | $96M | $110M | $101M | · | $62M | $73M | $67M | · | $2M | |
| Total Liabilities | $650M | $658M | $683M | $663M | $645M | $706M | $703M | $685M | $653M | $676M | · | $629M | $615M | $588M | · | $470M | |
| Common Stock | $249.0K | $254.0K | $262.0K | $268.0K | $270.0K | $275.0K | $282.0K | $286.0K | $285.0K | $295.0K | · | $311.0K | $320.0K | $325.0K | · | $323.0K | |
| Paid-in Capital | $2.11B | $2.15B | $2.23B | $2.26B | $2.25B | $2.29B | $2.34B | $2.36B | $2.32B | $2.39B | · | $2.49B | $2.53B | $2.56B | · | $2.51B | |
| Retained Earnings | $-263M | $-216M | $-77M | $-106M | $-220M | $-163M | $-99M | $-90M | $-200M | $-259M | · | $-126M | $11M | $6M | · | $-4M | |
| AOCI | $-2M | $-415.0K | $3M | $4M | $1M | $2M | $-1M | $4M | $-5M | $-5M | · | $-14M | $-14M | $-9M | · | $-18M | |
| Stockholders' Equity | $1.84B | $1.94B | $2.16B | $2.16B | $2.03B | $2.13B | $2.24B | $2.28B | $2.12B | $2.13B | $2.26B | $2.35B | $2.53B | $2.56B | $2.49B | $2.49B | |
| Liabilities + Equity | $2.49B | $2.59B | $2.84B | $2.82B | $2.68B | $2.84B | $2.95B | $2.96B | $2.77B | $2.80B | · | $2.98B | $3.14B | $3.14B | · | $2.96B | |
| Shares Outstanding | 248,885,000 | 253,701,000 | 262,483,000 | 268,098,000 | 270,132,000 | 275,033,000 | 281,732,000 | 285,780,000 | 285,222,000 | 295,032,000 | 302,793,000 | 310,970,000 | 320,253,000 | 324,985,000 | 323,951,000 | 322,541,000 |
Cash Flow 12
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $7M | $8M | $7M | $7M | $7M | $10M | $7M | $7M | $6M | $7M | $6M | $6M | $7M | $6M | $6M | |
| Stock-based Comp | $33M | $29M | $45M | $31M | $36M | $26M | $12M | $23M | $25M | $19M | $24M | $40M | $25M | $17M | $26M | $37M | |
| Restructuring | · | · | $-13M | $20M | $0 | $0 | $34M | $96.0K | $475.0K | $33M | · | $0 | $0 | $0 | · | · | |
| Other Non-cash | · | $5M | · | · | · | $19M | · | · | · | $6M | · | · | · | $21M | · | · | |
| Operating Cash Flow | $308M | $252M | $425M | $290M | $49M | $211M | $377M | $271M | $120M | $69M | $11M | $117M | $121M | $84M | $74M | $110M | |
| CapEx | $7M | $2M | $-16M | $1M | $3M | $3M | $1M | $8M | $7M | $10M | $13M | $9M | $6M | $12M | $10M | $43.0K | |
| Investing Cash Flow | $91M | $-51M | $374M | $25M | $248M | $50M | $-28M | $-217M | $82M | $112M | $62M | $35M | $-74M | $-50M | $-246M | $-69M | |
| Stock Repurchased | $323M | $430M | $486M | $104M | $302M | $284M | $311M | $12M | $264M | $185M | $209M | $217M | $124M | $0 | $0 | $0 | |
| Net Stock Activity | · | $-430M | · | · | · | $-284M | · | · | · | $-185M | · | · | · | · | · | · | |
| Financing Cash Flow | $-344M | $-457M | $-529M | $-104M | $-316M | $-295M | $-289M | $6M | $-262M | $-184M | $-206M | $-220M | $-125M | $5M | $-2M | $-2M | |
| Net Change in Cash | $55M | $-256M | $270M | $212M | $-19M | $-34M | $60M | $60M | $-61M | $-3M | $-134M | $-68M | $-78M | $39M | $-174M | $39M | |
| Free Cash Flow | · | $250M | · | · | · | $208M | · | · | · | $59M | · | · | · | $72M | · | · |
Profitability 5
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 39.5% | 41.1% | · | 39.6% | 37.6% | 33.6% | · | 25.2% | 43.3% | 6.9% | · | -3.7% | 16.6% | 7.0% | · | 20.1% | |
| Net Margin | 33.7% | 34.5% | · | 32.4% | 32.5% | 28.7% | · | 21.9% | 35.5% | 8.8% | · | 0.22% | 17.3% | 9.8% | · | 17.8% | |
| EBITDA Margin | 39.5% | 42.3% | · | 39.6% | 37.6% | 35.0% | · | 25.2% | 43.3% | 8.4% | · | -3.7% | 16.6% | 8.7% | · | 20.1% | |
| ROA | 8.2% | 7.8% | · | 6.7% | 6.8% | 5.7% | · | 4.0% | 7.6% | 1.2% | · | 0.04% | 2.7% | 1.4% | · | 2.7% | |
| ROE | 10.9% | 10.3% | · | 8.7% | 8.9% | 7.5% | · | 5.1% | 9.7% | 1.6% | · | 0.04% | 3.3% | 1.7% | · | 3.2% |
Liquidity & Solvency 2
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.5 | 3.3 | · | 3.8 | 3.5 | 3.5 | · | 3.9 | 4.3 | 3.5 | · | 3.8 | 4.7 | 5.0 | · | 6.1 | |
| Quick Ratio | 3.2 | 3.0 | · | 3.5 | 3.2 | 3.3 | · | 3.7 | 4.0 | 3.2 | · | 3.6 | 4.4 | 4.7 | · | 5.8 |
Efficiency 3
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | |
| Inventory Turnover | 0.8 | 0.8 | · | 0.8 | 0.9 | 0.8 | · | 0.8 | 0.7 | 0.8 | · | 0.7 | 0.6 | 0.5 | · | 0.6 | |
| Receivables Turnover | 2.0 | 2.0 | · | 2.1 | 1.6 | 2.1 | · | 2.1 | 2.0 | 1.8 | · | 2.0 | 2.0 | 1.9 | · | 2.1 |
Valuation (TTM) 10
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.41B | $2.33B | · | $2.26B | $2.30B | $2.16B | · | $2.07B | $2.00B | $1.78B | · | $1.76B | $1.71B | $1.60B | · | $1.52B | |
| Net Income TTM | $801M | $749M | · | $656M | $689M | $541M | · | $382M | $346M | $160M | · | $195M | $265M | $252M | · | $251M | |
| Market Cap | $13.90B | $11.13B | · | $10.75B | $12.47B | $9.51B | · | $7.42B | $6.41B | $7.00B | · | $6.79B | $6.12B | $6.31B | · | $5.06B | |
| P/E | 18.9 | 16.4 | · | 17.5 | 19.5 | 18.8 | · | 20.1 | 19.7 | 48.4 | · | 36.4 | 23.3 | 24.9 | · | 20.1 | |
| P/S | 5.8 | 4.8 | · | 4.8 | 5.4 | 4.4 | · | 3.6 | 3.2 | 3.9 | · | 3.9 | 3.6 | 4.0 | · | 3.3 | |
| P/B | 7.5 | 5.8 | · | 5.0 | 6.1 | 4.5 | · | 3.3 | 3.0 | 3.3 | · | 2.9 | 2.4 | 2.5 | · | 2.0 | |
| P / Tangible Book | 7.8 | 5.9 | · | 5.1 | 6.3 | 4.6 | · | 3.4 | 3.1 | 3.4 | · | 3.0 | 2.5 | 2.5 | · | 2.1 | |
| P / Cash Flow | · | 44.2 | · | · | · | 45.0 | · | · | · | 101.7 | · | · | · | 74.7 | · | · | |
| P / FCF | · | 44.5 | · | · | · | 45.6 | · | · | · | 118.4 | · | · | · | 87.1 | · | · | |
| Earnings Yield | 5.3% | 6.1% | · | 5.7% | 5.1% | 5.3% | · | 5.0% | 5.1% | 2.1% | · | 2.8% | 4.3% | 4.0% | · | 5.0% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-01-02 | 2025-01-03 | 2023-12-29 | 2022-12-30 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $2.32B | $2.17B | $1.83B | $1.61B | $1.43B |
| Operating Margin % | 37.6% | 27.9% | 9.3% | 12.5% | 20.0% |
| Net Income | $783M | $521M | $208M | $182M | $231M |
| Diluted EPS | $2.78 | $1.76 | $0.65 | $0.56 | $0.72 |
Balance Sheet
| 2026-01-02 | 2025-01-03 | 2023-12-29 | 2022-12-30 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 3.6 | 3.6 | 3.3 | 5.0 | 5.4 |
| Quick Ratio | 3.3 | 3.4 | 3.1 | 4.7 | 5.2 |
Cash Flow
| 2026-01-02 | 2025-01-03 | 2023-12-29 | 2022-12-30 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $876M | $672M | $293M | $335M | $337M |
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Institutional owners (13F) 811 filers · $9.1B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 135 (+27 vs prior Q) | 61 (-13 vs prior Q) | 240 (-1 vs prior Q) | 274 (+16 vs prior Q) | +39.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FARALLON CAPITAL MANAGEMENT, L.L.C. | $732,794,424 | 13,468,010 | 8.04% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $730,617,099 | 13,427,993 | 8.01% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $655,266,268 | 12,043,122 | 7.19% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $595,843,747 | 10,950,997 | 6.53% | Shares |
| STATE STREET CORP | $542,471,563 | 9,970,071 | 5.95% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $485,848,030 | 8,929,389 | 5.33% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $362,702,104 | 6,664,894 | 3.98% | Shares |
| D. E. Shaw & Co., Inc. | $281,389,313 | 5,171,647 | 3.09% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $237,550,034 | 4,365,926 | 2.60% | Shares |
| TWO SIGMA INVESTMENTS, LP | $229,058,537 | 4,209,861 | 2.51% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $221,832,835 | 4,077,060 | 2.43% | Shares |
| ASSETMARK, INC | $186,834,364 | 3,433,824 | 2.05% | Shares |
| Stephens Investment Management Group LLC | $147,451,698 | 2,710,011 | 1.62% | Shares |
| NORGES BANK | $146,301,199 | 2,688,866 | 1.60% | Shares |
| FIRST TRUST ADVISORS LP | $138,383,701 | 2,543,353 | 1.52% | Shares |
| Caisse de depot et placement du Quebec | $113,950,809 | 2,094,299 | 1.25% | Shares |
| GOLDMAN SACHS GROUP INC | $106,578,308 | 1,958,800 | 1.17% | Shares |
| AMERICAN CENTURY COMPANIES INC | $97,484,439 | 1,791,664 | 1.07% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $86,563,209 | 1,590,943 | 0.95% | Shares |
| Caligan Partners LP | $84,512,985 | 1,553,262 | 0.93% | Shares |
| MILLENNIUM MANAGEMENT LLC | $66,309,793 | 1,218,706 | 0.73% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $63,086,055 | 1,159,457 | 0.69% | Shares |
| BANK OF AMERICA CORP /DE/ | $58,788,318 | 1,080,469 | 0.64% | Shares |
| Robeco Institutional Asset Management B.V. | $56,032,453 | 1,029,819 | 0.61% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $51,671,488 | 949,669 | 0.57% | Shares |
| FMR LLC | $48,839,667 | 897,623 | 0.54% | Shares |
| Gotham Asset Management, LLC | $48,569,794 | 892,663 | 0.53% | Shares |
| Swedbank AB | $45,801,141 | 841,778 | 0.50% | Shares |
| Allspring Global Investments Holdings, LLC | $44,544,520 | 825,510 | 0.49% | Shares |
| Retirement Systems of Alabama | $44,107,739 | 810,655 | 0.48% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $43,750,809 | 804,095 | 0.48% | Shares |
| RAYMOND JAMES FINANCIAL INC | $41,924,320 | 770,526 | 0.46% | Shares |
| Capital Impact Advisors, LLC | $41,061,268 | 754,664 | 0.45% | Shares |
| BlackRock, Inc. | $40,753,525 | 749,008 | 0.45% | Shares |
| RHUMBLINE ADVISERS | $35,723,294 | 656,559 | 0.39% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $35,464,438 | 651,800 | 0.39% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $34,721,830 | 639,680 | 0.38% | Shares |
| MARSHALL WACE, LLP | $34,322,590 | 630,814 | 0.38% | Shares |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $34,315,027 | 630,675 | 0.38% | Shares |
| AMERIPRISE FINANCIAL INC | $32,255,716 | 592,827 | 0.35% | Shares |
| BARCLAYS PLC | $31,502,574 | 578,985 | 0.35% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $31,496,480 | 578,873 | 0.35% | Shares |
| Arbejdsmarkedets Tillaegspension | $30,855,911 | 567,100 | 0.34% | Shares |
| Pictet Asset Management Holding SA | $30,153,926 | 555,438 | 0.33% | Shares |
| California Public Employees Retirement System | $29,366,600 | 539,728 | 0.32% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $28,686,856 | 527,235 | 0.31% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $28,655,734 | 526,663 | 0.31% | Shares |
| JANUS HENDERSON GROUP PLC | $26,675,806 | 621,814 | 0.29% | Shares |
| Woodline Partners LP | $26,411,049 | 485,408 | 0.29% | Shares |
| Driehaus Capital Management LLC | $26,025,500 | 478,322 | 0.29% | Shares |
| EULAV Asset Management | $25,901,500 | 476,043 | 0.28% | Shares |
| Squarepoint Ops LLC | $25,774,398 | 473,707 | 0.28% | Shares |
| Swiss National Bank | $25,648,874 | 471,400 | 0.28% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $25,156,355 | 462,348 | 0.28% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $24,600,555 | 452,133 | 0.27% | Shares |
| IEQ CAPITAL, LLC | $24,580,697 | 451,768 | 0.27% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $23,831,580 | 438,000 | 0.26% | Shares |
| Baird Financial Group, Inc. | $23,565,461 | 433,109 | 0.26% | Shares |
| FRANKLIN RESOURCES INC | $23,480,472 | 431,547 | 0.26% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $23,347,331 | 429,100 | 0.26% | Call option |
| Assenagon Asset Management S.A. | $23,324,098 | 428,673 | 0.26% | Shares |
| BANK OF NOVA SCOTIA | $22,837,676 | 419,730 | 0.25% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $22,615,516 | 415,650 | 0.25% | Shares |
| South Street Advisors LLC | $22,275,019 | 409,392 | 0.24% | Shares |
| Bridgewater Associates, LP | $21,810,738 | 400,859 | 0.24% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $21,480,143 | 394,783 | 0.24% | Shares |
| ROYAL BANK OF CANADA | $20,031,000 | 368,153 | 0.22% | Shares |
| SEI INVESTMENTS CO | $19,897,640 | 365,698 | 0.22% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $18,664,208 | 343,029 | 0.20% | Shares |
| Nuveen, LLC | $18,299,226 | 336,321 | 0.20% | Shares |
| Nuveen Asset Management, LLC | $18,252,629 | 548,127 | 0.20% | Shares |
| NFJ INVESTMENT GROUP, LLC | $17,880,160 | 328,619 | 0.20% | Shares |
| SAWGRASS ASSET MANAGEMENT LLC | $17,808,447 | 327,301 | 0.20% | Shares |
| WORLDQUANT MILLENNIUM ADVISORS LLC | $17,565,616 | 322,838 | 0.19% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $17,472,485 | 407,379 | 0.19% | Shares |
| ING GROEP NV | $16,943,274 | 311,400 | 0.19% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $16,529,758 | 303,800 | 0.18% | Put option |
| Brandywine Global Investment Management, LLC | $16,490,117 | 376,229 | 0.18% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $16,488,532 | 303,042 | 0.18% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $16,262,224 | 298,883 | 0.18% | Shares |
| HighTower Advisors, LLC | $15,842,121 | 291,162 | 0.17% | Shares |
| SEIZERT CAPITAL PARTNERS, LLC | $15,411,796 | 283,253 | 0.17% | Shares |
| Trexquant Investment LP | $14,974,122 | 275,209 | 0.16% | Shares |
| Clark Capital Management Group, Inc. | $14,792,882 | 271,878 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $14,763,381 | 344,215 | 0.16% | Shares |
| VAN ECK ASSOCIATES CORP | $14,270,709 | 262,281 | 0.16% | Shares |
| GLOBEFLEX CAPITAL L P | $13,874,169 | 254,993 | 0.15% | Shares |
| Sofinnova Investments, Inc. | $13,831,022 | 254,200 | 0.15% | Put option |
| JANE STREET GROUP, LLC | $13,815,570 | 253,916 | 0.15% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $13,724,052 | 252,234 | 0.15% | Shares |
| Voleon Capital Management LP | $13,682,047 | 251,462 | 0.15% | Shares |
| BLAIR WILLIAM & CO/IL | $13,233,352 | 243,215 | 0.15% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $13,027,000 | 239,418 | 0.14% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $12,745,021 | 297,156 | 0.14% | Shares |
| MERITAGE PORTFOLIO MANAGEMENT | $12,679,099 | 289,279 | 0.14% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $12,516,694 | 230,044 | 0.14% | Shares |
| Susquehanna Portfolio Strategies, LLC | $12,500,643 | 229,749 | 0.14% | Shares |
| MILLENNIUM MANAGEMENT LLC | $12,035,492 | 221,200 | 0.13% | Call option |
| Illinois Municipal Retirement Fund | $11,750,764 | 215,967 | 0.13% | Shares |
| CWM, LLC | $11,300,486 | 263,476 | 0.12% | Shares |
Company insiders 43 insiders · 22 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Michael Morrissey | President and CEO | May 18, 2026 G | 2,004,327 | 0 | 0 | $0 |
| Christopher J. Senner | EVP and CFO | May 18, 2026 S | 952,317 | 0 | 3 | $-4,556,048 |
| Deborah Burke | SVP & Chief Financial Officer | Nov. 15, 2014 M | 18,156 | 0 | 0 | $0 |
| Frank Karbe | EVP and CFO | Feb. 15, 2014 M | 93,990 | 0 | 0 | $0 |
| Kristine M Ball | Controller & Interim CFO | Dec. 10, 2003 A | 4,913 | 0 | 0 | $0 |
| Patrick J. Haley | EVP, Commercial | May 20, 2026 S | 357,638 | 0 | 7 | $-7,597,268 |
| Brenda Hefti | SVP and General Counsel | May 18, 2026 S | 106,762 | 0 | 2 | $-1,154,264 |
| Amy C. Peterson | EVP Prod Dev & Med Aff & CMO | May 16, 2025 M | 465,393 | 0 | 0 | $0 |
| Jeffrey Hessekiel | EVP & General Counsel | May 15, 2025 S | 693,396 | 0 | 0 | $0 |
| Vicki L Goodman | EVP, Prod Dev & Med Aff &CMO | April 3, 2023 A | 307,654 | 0 | 0 | $0 |
| Peter Lamb | EVP, Scientific Strategy & CSO | Dec. 15, 2022 M | 410,958 | 0 | 0 | $0 |
| Gisela Schwab | Pres, Prod Dev & Med Aff & CMO | July 26, 2021 M | 689,078 | 0 | 0 | $0 |
| Pamela A Simonton | EVP and General Counsel | Nov. 15, 2013 M | 17,139 | 0 | 0 | $0 |
| Lupe M Rivera | EVP, Operations | Aug. 15, 2011 M | 19,219 | 0 | 0 | $0 |
| Frances K Heller | EVP, Business Development | May 15, 2011 M | 17,125 | 0 | 0 | $0 |
| Ian D Malcolm | VP, STRATEGIC MARKETING | Dec. 8, 2006 A | — | 0 | 0 | $0 |
| Christoph Pereira | VP, Legal Affairs & Secretary | Dec. 8, 2006 A | — | 0 | 0 | $0 |
| Jeffrey Latts | Executive VP, Development | Dec. 8, 2006 A | — | 0 | 0 | $0 |
| Gregory Plowman | Sr VP, CSO | Dec. 13, 2004 A | — | 0 | 0 | $0 |
| Steven P James | Sr VP, Commercial Ops | Dec. 10, 2003 A | — | 0 | 0 | $0 |
| Jane M Green | VP, Corp Communications | Dec. 10, 2003 A | — | 0 | 0 | $0 |
| Geoffrey M Duyk | Pres R&D & CSO | Nov. 4, 2003 S | 941,355 | 0 | 0 | $0 |
| Alan M Garber | Director | March 21, 2024 M | 35,703 | 0 | 0 | $0 |
| Jacqueline Wright | Director | June 1, 2023 A | 51,756 | 0 | 0 | $0 |
| Carl B Feldbaum | Director | Feb. 9, 2023 M | 18,701 | 0 | 0 | $0 |
| Lance Willsey | Director | May 26, 2022 A | 424,415 | 0 | 0 | $0 |
| Vincent T Marchesi | Director | May 26, 2022 A | 93,989 | 0 | 0 | $0 |
| Charles Cohen | Director | July 6, 2021 M | 261,375 | 0 | 0 | $0 |
| George A Scangos | Director | May 18, 2020 S | 714,717 | 0 | 0 | $0 |
| FORMELA JEAN FRANCOIS | Director | Sept. 7, 2005 S | 584,519 | 0 | 0 | $0 |
| Mary C Beckerle | — | Aug. 10, 2026 S | 16,079 | 0 | 4 | $-1,932,572 |
| Sue Gail Eckhardt | — | June 1, 2026 S | 16,079 | 0 | 2 | $-660,828 |
| Jack L Wyszomierski | — | June 1, 2026 S | 284,384 | 0 | 2 | $-4,580,661 |
| Tomas J. Heyman | — | May 27, 2026 A | 50,649 | 0 | 0 | $0 |
| Bob Oliver | — | May 27, 2026 A | 29,487 | 0 | 2 | $-1,325,340 |
| Julie Smith | — | May 27, 2026 A | 28,957 | 0 | 3 | $-4,687,346 |
| Maria C Freire | — | May 27, 2026 A | 109,186 | 0 | 1 | $-949,164 |
| Stelios Papadopoulos | — | May 27, 2026 A | 1,197,595 | 0 | 1 | $-4,355,000 |
| George Poste | — | May 27, 2026 A | 127,199 | 0 | 1 | $-2,742,600 |
| Dana Aftab | — | May 26, 2026 S | 594,741 | 0 | 4 | $-7,701,255 |
| Frank Mccormick | — | Dec. 6, 2013 A | — | 0 | 0 | $0 |
| Scott J. Garland | — | Sept. 18, 2013 A | — | 0 | 0 | $0 |
| Jason S Fisherman | — | Sept. 8, 2005 S | 7,881 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Farallon Capital Management, L.L.C., Farallon Capital Partners, L.P., Farallon Capital Institutional Partners, L.P., Farallon Capital Institutional Partners II, L.P., Farallon Capital Institutional Partners III, L.P., Four Crossings Institutional Partners V, L.P., Farallon Capital Offshore Investors II, L.P., Farallon Capital (AM) Investors, L.P., Farallon Capital F5 Master I, L.P., Farallon Healthcare Partners Master, L.P., Farallon Partners, L.L.C., Farallon Institutional (GP) V, L.L.C., Farallon F5 (GP), L.L.C., Farallon Healthcare Partners (GP), L.L.C., Dapice Joshua J., Dreyfuss, Philip D., Dunn Hannah E., Gehani, Varun N., Giauque, Nicolas, Husen, Avner A., Kim, David T., Linn, Michael G., Luo Patrick (Cheng), Roberts, Jr., Thomas G., Saito Edric C., Short Daniel S., Spokes, Andrew J. M., Warren, John R., Wehrly, Mark C. | Aug. 14, 2026 | 5.60% | Amendment | — | SEC |
| Farallon Capital Partners, L.P., Farallon Capital Institutional Partners, L.P., Farallon Capital Institutional Partners II, L.P., Farallon Capital Institutional Partners III, L.P., Four Crossings Institutional Partners V, L.P., Farallon Capital Offshore Investors II, L.P., Farallon Capital (AM) Investors, L.P., Farallon Capital F5 Master I, L.P., Farallon Healthcare Partners Master, L.P., Farallon Partners, L.L.C., Farallon Institutional (GP) V, L.L.C., Farallon F5 (GP), L.L.C., Farallon Healthcare Partners (GP), L.L.C., Dapice Joshua J., Dreyfuss, Philip D., Dunn Hannah E., Fried, Richard B, Gehani, Varun N., Giauque, Nicolas, Husen, Avner A., Kim, David T., Linn, Michael G., Luo Patrick (Cheng), Patel, Rajiv A., Roberts, Jr., Thomas G., Saito Edric C., Seybold, William, Short Daniel S., Spokes, Andrew J. M., Warren, John R., Wehrly, Mark C. ×8 filings | Jan. 5, 2026 | 5.90% | Amendment | — | SEC |
| Caligan Partners LP, David Johnson ×3 filings | June 2, 2023 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Nov. 29, 2001 | — | Initial filing | M&A / sale | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 152 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IDNA · iShares Trust | 3.47% | 131,275 SH | Aug. 8, 2026 | Daily |
| SAWG · ETF Series Solutions | 2.82% | 1,599 NS | April 30, 2026 | N-PORT |
| CANC · Tema ETF Trust | 2.78% | 96,885 NS | May 31, 2026 | N-PORT |
| XMHQ · Invesco Exchange-Traded Fund Trust | 2.67% | 2,774,135 SH | Aug. 8, 2026 | Daily |
| PBE · Invesco Exchange-Traded Fund Trust | 2.59% | 173,519 SH | Aug. 8, 2026 | Daily |
| MCOW · Pacer Funds Trust | 2.38% | 528 NS | April 30, 2026 | N-PORT |
| FXH · First Trust Exchange-Traded AlphaDE… | 2.24% | 441,186 NS | April 30, 2026 | N-PORT |
| LYLD · Cambria ETF Trust | 2.01% | 2,722 NS | April 30, 2026 | N-PORT |
| AZTD · Tidal Trust I | 1.92% | 18,950 NS | April 30, 2026 | N-PORT |
| GRPM · Invesco Exchange-Traded Fund Trust | 1.84% | 172,947 SH | Aug. 8, 2026 | Daily |
| BBP · ETFis Series Trust I | 1.74% | 23,148 NS | April 30, 2026 | N-PORT |
| ABOT · Abacus FCF ETF Trust | 1.61% | 1,596 NS | April 30, 2026 | N-PORT |
| BUL · Pacer Funds Trust | 1.45% | 41,520 NS | April 30, 2026 | N-PORT |
| JSMD · Janus Detroit Street Trust | 1.39% | 306,870 NS | April 30, 2026 | N-PORT |
| JMID · Janus Detroit Street Trust | 1.36% | 5,563 NS | April 30, 2026 | N-PORT |
| RFG · Invesco Exchange-Traded Fund Trust | 1.30% | 86,397 SH | Aug. 8, 2026 | Daily |
| PTH · Invesco Exchange-Traded Fund Trust | 1.29% | 58,887 SH | Aug. 8, 2026 | Daily |
| COWG · Pacer Funds Trust | 1.26% | 616,432 NS | April 30, 2026 | N-PORT |
| TAX · EA Series Trust | 1.13% | 5,692 NS | May 29, 2026 | N-PORT |
| CALF · Pacer Funds Trust | 1.07% | 829,382 NS | April 30, 2026 | N-PORT |
| AFMC · First Trust Exchange-Traded Fund VI… | 1.03% | 32,938 NS | May 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 1.00% | 116,281 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.98% | 1,788,613 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.93% | 13,681 SH | Aug. 8, 2026 | Daily |
| AGNG · Global X Funds | 0.92% | 14,988 NS | May 31, 2026 | N-PORT |
| OASC · Unified Series Trust | 0.91% | 15,171 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.90% | 25,550 NS | April 30, 2026 | N-PORT |
| FLOW · Global X Funds | 0.90% | 5,093 NS | May 31, 2026 | N-PORT |
| VAMO · Cambria ETF Trust | 0.88% | 16,470 NS | April 30, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.72% | 248,016 SH | Aug. 8, 2026 | Daily |
| FLRG · FIDELITY COVINGTON TRUST | 0.72% | 45,672 NS | April 30, 2026 | N-PORT |
| IJK · iShares Trust | 0.70% | 1,469,020 SH | Aug. 8, 2026 | Daily |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.69% | 7,149 NS | May 31, 2026 | N-PORT |
| CLSE · Trust for Professional Managers | 0.68% | 82,717 NS | May 31, 2026 | N-PORT |
| BIB · ProShares Trust | 0.66% | 9,600 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.64% | 4,091 NS | May 31, 2026 | N-PORT |
| VUSE · ETF Series Solutions | 0.63% | 85,930 NS | May 31, 2026 | N-PORT |
| LSEQ · Harbor ETF Trust | 0.60% | 2,080 NS | April 30, 2026 | N-PORT |
| PDP · Invesco Exchange-Traded Fund Trust | 0.59% | 165,207 SH | Aug. 8, 2026 | Daily |
| QGRO · AMERICAN CENTURY ETF TRUST | 0.58% | 255,026 NS | May 31, 2026 | N-PORT |
| SIXL · EXCHANGE TRADED CONCEPTS TRUST | 0.53% | 19,762 NS | May 31, 2026 | N-PORT |
| VLLU · Harbor ETF Trust | 0.51% | 502 NS | April 30, 2026 | N-PORT |
| VFQY · VANGUARD WELLINGTON FUND | 0.49% | 42,746 SH | Aug. 8, 2026 | Daily |
| LSVD · ADVISORS' INNER CIRCLE FUND | 0.48% | 64,828 NS | April 30, 2026 | N-PORT |
| HQGO · Lattice Strategies Trust | 0.47% | 5,095 NS | April 30, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.45% | 147,282 SH | Aug. 8, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.44% | 30,864 NS | April 30, 2026 | N-PORT |
| XJH · iShares Trust | 0.41% | 33,981 SH | Aug. 8, 2026 | Daily |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.41% | 47,960 NS | April 30, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.41% | 33,169 SH | Aug. 8, 2026 | Daily |