Mackenzie Financial Corp Has $164.04 Million Position in Exact Sciences Co. (NASDAQ:EXAS)

Mackenzie Financial Corp boosted its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 107.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,919,325 shares of the medical research company's stock after purchasing an additional 1,513,873 shares during the quarter. Mackenzie Financial Corp owned about 1.58% of Exact Sciences worth $164,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Exact Sciences by 74.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock valued at $323,669,000 after buying an additional 2,462,165 shares during the period. Capital World Investors lifted its holdings in Exact Sciences by 10.7% in the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after acquiring an additional 1,696,321 shares during the last quarter. Norges Bank acquired a new position in Exact Sciences in the fourth quarter valued at approximately $50,625,000. T. Rowe Price Investment Management Inc. lifted its stake in Exact Sciences by 25.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock worth $239,922,000 after purchasing an additional 876,985 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Exact Sciences during the fourth quarter worth $21,251,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EXAS has been the topic of several research reports. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a report on Friday, April 11th. Barclays raised their price objective on shares of Exact Sciences from $55.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. William Blair reissued an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Robert W. Baird boosted their price target on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Piper Sandler reduced their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.90.

Exact Sciences Price Performance

Shares of NASDAQ EXAS traded up $1.52 during mid-day trading on Wednesday, reaching $58.08. 2,504,443 shares of the company traded hands, compared to its average volume of 2,553,361. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The firm has a market cap of $10.96 billion, a PE ratio of -10.43 and a beta of 0.92. The stock has a fifty day simple moving average of $48.05 and a 200-day simple moving average of $51.90.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $706.79 million during the quarter, compared to analysts' expectations of $688.58 million. During the same period last year, the firm posted ($0.60) earnings per share. The firm's revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Exact Sciences Company 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.