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

Mackenzie Financial Corp cut its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 6.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,248 shares of the medical research company’s stock after selling 822 shares during the quarter. 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).

Several other institutional investors also recently bought and sold shares of the stock. Wolff Wiese Magana LLC lifted its holdings in Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after buying an additional 340 shares during the period. BluePath Capital Management LLC purchased a new stake in Exact Sciences in the 3rd quarter worth approximately $33,000. Newbridge Financial Services Group Inc. purchased a new stake in Exact Sciences in the 3rd quarter worth approximately $34,000. Cullen Frost Bankers Inc. lifted its holdings in Exact Sciences by 40.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock worth $48,000 after buying an additional 200 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in Exact Sciences by 29.5% in the 3rd quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock worth $53,000 after buying an additional 176 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel James Herriott sold 415 shares of Exact Sciences stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $61.50, for a total transaction of $25,522.50. Following the transaction, the general counsel now directly owns 6,943 shares in the company, valued at $426,994.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel James Herriott sold 415 shares of Exact Sciences stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $61.50, for a total transaction of $25,522.50. Following the transaction, the general counsel now directly owns 6,943 shares in the company, valued at $426,994.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacob A. Orville sold 966 shares of Exact Sciences stock in a transaction 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 transaction, the insider now owns 7,488 shares in the company, valued at $459,987.84. The disclosure for this sale can be found here. Insiders sold 69,113 shares of company stock valued at $4,165,273 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

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

Exact Sciences Stock Down 7.0 %

Exact Sciences stock opened at $58.79 on Friday. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of -51.57 and a beta of 1.25. The stock has a fifty day simple moving average of $63.48 and a two-hundred day simple moving average of $64.99. Exact Sciences Co. has a 12 month low of $56.05 and a 12 month high of $100.77. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company had revenue of $646.89 million during the quarter, compared to analyst estimates of $638.83 million. During the same quarter in the previous year, the company posted ($0.72) earnings per share. Exact Sciences’s revenue was up 17.0% compared to the same quarter last year. Equities analysts predict that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Exact Sciences Profile

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.