Mackenzie Financial Corp Has $150.11 Million Stake in Exact Sciences Corporation $EXAS

Mackenzie Financial Corp reduced its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,743,819 shares of the medical research company’s stock after selling 111,982 shares during the quarter. Mackenzie Financial Corp owned approximately 1.45% of Exact Sciences worth $150,114,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. grew its holdings in Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock valued at $31,000 after buying an additional 271 shares during the last quarter. Country Trust Bank bought a new stake in shares of Exact Sciences in the second quarter valued at approximately $32,000. Quent Capital LLC acquired a new stake in shares of Exact Sciences in the third quarter worth $48,000. OFI Invest Asset Management increased its position in Exact Sciences by 241.2% during the third quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company’s stock worth $59,000 after acquiring an additional 767 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in Exact Sciences by 463.0% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 1,216 shares of the medical research company’s stock valued at $65,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $85.00 to $105.00 in a report on Tuesday, November 25th. Piper Sandler downgraded shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Monday, November 24th. Craig Hallum cut shares of Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Friday, November 21st. Robert W. Baird set a $105.00 price target on shares of Exact Sciences in a research report on Thursday, November 20th. Finally, Leerink Partners downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Twenty-one analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Reduce” and an average target price of $92.13.

Exact Sciences Stock Up 0.0%

Shares of NASDAQ:EXAS opened at $103.40 on Thursday. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $103.75. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43. The company’s fifty day moving average is $102.76 and its 200-day moving average is $83.06. The company has a market capitalization of $19.74 billion, a PE ratio of -94.00, a P/E/G ratio of 2.35 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.During the same quarter last year, the firm posted ($0.06) EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. Equities research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.