Bank Pictet & Cie Europe AG Reduces Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Bank Pictet & Cie Europe AG decreased its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in Exact Sciences during the second quarter valued at approximately $29,000. Benjamin F. Edwards & Company Inc. lifted its position in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company's stock valued at $31,000 after purchasing an additional 179 shares during the period. 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 lifted its position in Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company's stock valued at $49,000 after purchasing an additional 340 shares during the period. Finally, GAMMA Investing LLC lifted its position in Exact Sciences by 48.4% during the second 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. Institutional investors own 88.82% of the company's stock.

Exact Sciences Trading Down 0.4 %

Shares of EXAS stock traded down $0.31 during trading hours on Wednesday, reaching $70.27. 1,077,542 shares of the stock were exchanged, compared to its average volume of 2,564,026. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. 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's 50-day moving average price is $65.05 and its 200-day moving average price is $56.53. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of -53.47 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $699.26 million during the quarter, compared to analysts' expectations of $690.02 million. During the same period in the previous year, the company earned ($0.45) EPS. The firm's quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the company's stock in a transaction that occurred on Tuesday, October 8th. The shares were 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 approximately $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on EXAS shares. Scotiabank started coverage on shares of Exact Sciences in a research report on Thursday, June 27th. They issued a "sector outperform" rating and a $70.00 price target on the stock. BTIG Research decreased their price target 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 target on shares of Exact Sciences from $72.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. The Goldman Sachs Group decreased their price target on shares of Exact Sciences from $88.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, July 17th. Finally, Stifel Nicolaus decreased their price target on shares of Exact Sciences from $100.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.