Mackenzie Financial Corp Trims Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Mackenzie Financial Corp decreased its position in Exact Sciences Co. (NASDAQ:EXAS) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,248 shares of the medical research company’s stock after selling 822 shares during the period. Mackenzie Financial Corp’s holdings in Exact Sciences were worth $906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its stake in shares of Exact Sciences by 7.8% during the 4th quarter. Vontobel Holding Ltd. now owns 16,585 shares of the medical research company’s stock valued at $1,227,000 after buying an additional 1,201 shares during the last quarter. WCM Investment Management LLC purchased a new position in shares of Exact Sciences during the 4th quarter valued at about $871,000. Essex LLC purchased a new position in shares of Exact Sciences during the 4th quarter valued at about $215,000. Sapient Capital LLC purchased a new position in shares of Exact Sciences during the 4th quarter valued at about $282,000. Finally, Cerity Partners LLC purchased a new position in shares of Exact Sciences during the 4th quarter valued at about $387,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Insider Activity

In other Exact Sciences news, EVP Sarah Condella sold 965 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $59,279.95. Following the sale, the executive vice president now owns 70,489 shares of the company’s stock, valued at $4,330,139.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Exact Sciences news, EVP Sarah Condella sold 965 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $59,279.95. Following the sale, the executive vice president now owns 70,489 shares of the company’s stock, valued at $4,330,139.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacob A. Orville sold 966 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,341.38. Following the completion of the sale, the insider now directly owns 7,488 shares in the company, valued at approximately $459,987.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,113 shares of company stock valued at $4,165,273. 1.30% of the stock is currently owned by company insiders.

Exact Sciences Stock Down 7.0 %

EXAS stock opened at $58.79 on Friday. The firm has a market cap of $10.67 billion, a PE ratio of -51.57 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.07 and a current ratio of 2.32. The firm’s 50 day moving average price is $63.48 and its 200-day moving average price is $64.99. Exact Sciences Co. has a one year low of $56.05 and a one year high of $100.77.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.26. The firm had revenue of $646.89 million for the quarter, compared to analyst estimates of $638.83 million. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.72) EPS. On average, equities research analysts anticipate that Exact Sciences Co. will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

EXAS has been the subject of several recent analyst reports. TheStreet lowered Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Benchmark upgraded Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Tuesday, January 2nd. Citigroup restated a “buy” rating and issued a $100.00 price target on shares of Exact Sciences in a research note on Wednesday, April 3rd. William Blair restated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd. Finally, Canaccord Genuity Group cut their price target on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus price target of $97.44.

About Exact Sciences

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.