Bank Pictet & Cie Europe AG Sells 8,200 Shares of Exact Sciences Co. (NASDAQ:EXAS)

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

Several other hedge funds and other institutional investors also recently modified their holdings of EXAS. Itau Unibanco Holding S.A. bought a new stake in shares of Exact Sciences in the 2nd quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. increased its holdings in Exact Sciences by 65.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after buying an additional 179 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Exact Sciences during the third quarter valued at approximately $47,000. EverSource Wealth Advisors LLC boosted its stake in shares of Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Exact Sciences by 48.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,362 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 444 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Trading Up 1.6 %

NASDAQ EXAS opened at $70.58 on Wednesday. The stock has a market cap of $13.02 billion, a P/E ratio of -53.47 and a beta of 1.27. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $65.05 and a two-hundred day simple moving average of $56.53. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. The company had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. Exact Sciences’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.45) EPS. On average, analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

EXAS has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. The Goldman Sachs Group dropped their price target on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. BTIG Research reduced their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Evercore ISI increased their price objective on shares of Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Benchmark dropped their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.38.

Insider Activity at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.36% of the company’s stock.

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.