Mackenzie Financial Corp Increases Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Mackenzie Financial Corp increased its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 17.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,793 shares of the medical research company’s stock after buying an additional 2,054 shares during the period. Mackenzie Financial Corp’s holdings in Exact Sciences were worth $1,317,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Exact Sciences by 8.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 19,789,343 shares of the medical research company’s stock worth $2,460,013,000 after buying an additional 1,495,404 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Exact Sciences by 2.0% during the second quarter. Vanguard Group Inc. now owns 15,410,555 shares of the medical research company’s stock worth $1,915,686,000 after buying an additional 307,132 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Exact Sciences by 25.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,679,730 shares of the medical research company’s stock worth $446,680,000 after buying an additional 936,245 shares in the last quarter. Geode Capital Management LLC raised its position in Exact Sciences by 7.9% during the second quarter. Geode Capital Management LLC now owns 2,093,631 shares of the medical research company’s stock worth $259,864,000 after acquiring an additional 153,054 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in Exact Sciences by 5.9% during the second quarter. Ensign Peak Advisors Inc now owns 1,862,832 shares of the medical research company’s stock worth $231,568,000 after acquiring an additional 103,177 shares during the period. 90.22% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Kevin T. Conroy sold 16,922 shares of the firm’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $93.88, for a total transaction of $1,588,637.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

A number of research firms have weighed in on EXAS. Zacks Investment Research cut shares of Exact Sciences from a “hold” rating to a “strong sell” rating and set a $88.00 price objective for the company. in a research report on Wednesday, September 29th. Wells Fargo & Company reduced their price objective on shares of Exact Sciences from $120.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 3rd. Craig Hallum reduced their price objective on shares of Exact Sciences from $144.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday, November 3rd. Robert W. Baird reduced their price objective on shares of Exact Sciences from $125.00 to $116.00 and set an “outperform” rating for the company in a research report on Wednesday, November 3rd. Finally, Raymond James cut shares of Exact Sciences from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $160.00 to $130.00 in a research report on Wednesday, November 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $136.64.

Exact Sciences stock opened at $78.43 on Friday. Exact Sciences Co. has a 12-month low of $69.75 and a 12-month high of $159.54. The stock has a market cap of $13.51 billion, a P/E ratio of -15.78 and a beta of 1.22. The company has a 50-day moving average price of $81.97 and a 200 day moving average price of $96.01. The company has a current ratio of 2.27, a quick ratio of 2.14 and a debt-to-equity ratio of 0.55.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, November 1st. The medical research company reported ($0.97) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by ($0.08). Exact Sciences had a negative return on equity of 11.53% and a negative net margin of 46.14%. The firm had revenue of $456.38 million for the quarter, compared to analyst estimates of $429.04 million. During the same quarter in the previous year, the business posted ($0.36) earnings per share. As a group, analysts forecast that Exact Sciences Co. will post -3.13 EPS for the current year.

About Exact Sciences

EXACT Sciences Corp. is a molecular diagnostics company, which focuses on the early detection and prevention of colorectal cancer. It developed Cologuard, a screening test for the early detection of colorectal cancer and pre-cancer. The company was founded on February 10, 1995 and is headquartered in Madison, WI.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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