Bank Pictet & Cie Europe AG Purchases 34,914 Shares of Exact Sciences Corporation $EXAS

Key Points

• Bank Pictet & Cie Europe AG increased its stake in Exact Sciences Corporation by 27.2%, acquiring an additional 34,914 shares, bringing its total holdings to approximately 163,204 shares valued at $8.67 million.
• Shares of Exact Sciences have shown fluctuations, opening at $53.68, with analysts giving a consensus rating of "Moderate Buy" and an average price target of $68.05.
• Several hedge funds and institutional investors have also increased their positions in Exact Sciences, with 88.82% of the company's stock owned by such entities.

Bank Pictet & Cie Europe AG lifted its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 27.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 163,204 shares of the medical research company's stock after buying an additional 34,914 shares during the period. Bank Pictet & Cie Europe AG owned approximately 0.09% of Exact Sciences worth $8,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Perigon Wealth Management LLC grew its holdings in Exact Sciences by 15.8% in the second quarter. Perigon Wealth Management LLC now owns 9,838 shares of the medical research company's stock worth $523,000 after purchasing an additional 1,339 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Exact Sciences by 2.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 58,280 shares of the medical research company's stock worth $3,097,000 after purchasing an additional 1,653 shares in the last quarter. Ballentine Partners LLC purchased a new position in Exact Sciences during the 2nd quarter worth $257,000. Waycross Partners LLC purchased a new position in Exact Sciences during the 2nd quarter worth $1,328,000. Finally, AdvisorNet Financial Inc increased its position in Exact Sciences by 11.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 13,443 shares of the medical research company's stock valued at $714,000 after buying an additional 1,412 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on EXAS shares. BTIG Research lowered their price target on Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Evercore ISI lowered their target price on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Piper Sandler dropped their target price on shares of Exact Sciences from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, August 11th. Royal Bank Of Canada decreased their price target on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Exact Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.05.

Insiders Place Their Bets

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the transaction, the director directly owned 59,962 shares of the company's stock, valued at approximately $2,519,603.24. The trade was a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

Exact Sciences Trading Up 1.1%

Shares of Exact Sciences stock opened at $53.68 on Friday. The stock has a market cap of $10.16 billion, a PE ratio of -9.89, a price-to-earnings-growth ratio of 4.90 and a beta of 1.05. The firm has a fifty day moving average price of $48.84 and a 200 day moving average price of $49.64. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.83. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.24. The company had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The firm's revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) earnings per share. Equities research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current 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.

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