Bank Pictet & Cie Europe AG Has $8.68 Million Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Bank Pictet & Cie Europe AG reduced its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,477 shares of the medical research company’s stock after selling 8,200 shares during the period. Bank Pictet & Cie Europe AG owned about 0.07% of Exact Sciences worth $8,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors increased its position in Exact Sciences by 74.4% during the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after purchasing an additional 5,557,168 shares during the period. William Blair Investment Management LLC bought a new stake in Exact Sciences in the 2nd quarter valued at about $163,896,000. Champlain Investment Partners LLC boosted its position in shares of Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after acquiring an additional 1,438,010 shares during the period. Sculptor Capital LP bought a new position in Exact Sciences in the second quarter valued at $32,819,000. Finally, Samlyn Capital LLC bought a new stake in shares of Exact Sciences in the 2nd quarter worth approximately $30,426,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.36% of the company’s stock.

Exact Sciences Stock Performance

Exact Sciences stock opened at $70.58 on Wednesday. The company has a market cap of $13.02 billion, a P/E ratio of -53.47 and a beta of 1.27. The firm’s 50 day simple moving average is $65.05 and its 200-day simple moving average is $56.53. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. During the same quarter in the prior year, the business earned ($0.45) earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities research analysts predict that Exact Sciences Co. will post -0.87 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on EXAS shares. Evercore ISI upped their price target on Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. BTIG Research decreased their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Wells Fargo & Company initiated coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. Piper Sandler boosted their target price on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. Finally, The Goldman Sachs Group decreased their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and an average price target of $78.38.

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.