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

Mackenzie Financial Corp cut its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 3.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,743,819 shares of the medical research company’s stock after selling 111,982 shares during the quarter. Mackenzie Financial Corp’s holdings in Exact Sciences were worth $150,114,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of brokerages have commented on EXAS. William Blair lowered Exact Sciences from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 20th. BTIG Research lowered Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Wolfe Research cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Benchmark lowered Exact Sciences from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Jefferies Financial Group cut Exact Sciences from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $90.00 to $105.00 in a report on Monday, November 24th. Twenty-one equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $92.13.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $103.40 on Thursday. The company has a market capitalization of $19.74 billion, a price-to-earnings ratio of -94.00, a P/E/G ratio of 2.35 and a beta of 1.41. The firm’s 50 day simple moving average is $102.76 and its 200 day simple moving average is $83.06. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $103.75.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data 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 negative net margin of 6.40% and a positive return on equity of 0.53%. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue was up 23.1% on a year-over-year basis. As a group, sell-side analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Exact Sciences Company 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.