Banque Pictet & Cie SA Sells 16,839 Shares of Exact Sciences Corporation (NASDAQ:EXAS)

Banque Pictet & Cie SA lowered its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 23.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,854 shares of the medical research company's stock after selling 16,839 shares during the period. Banque Pictet & Cie SA's holdings in Exact Sciences were worth $2,331,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Exact Sciences in the 1st quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Exact Sciences in the 4th quarter worth approximately $45,000. AlphaQuest LLC raised its position in shares of Exact Sciences by 22,825.0% in the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after acquiring an additional 913 shares in the last quarter. Ostrum Asset Management raised its position in shares of Exact Sciences by 28.4% in the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock worth $134,000 after acquiring an additional 527 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of Exact Sciences in the 4th quarter worth approximately $149,000. Institutional investors own 88.82% of the company's stock.

Insiders Place Their Bets

In related news, Director Katherine S. Zanotti sold 3,207 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $53.20, for a total transaction of $170,612.40. Following the completion of the transaction, the director directly owned 72,759 shares of the company's stock, valued at approximately $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Robert W. Baird raised their price objective on Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Mizuho initiated coverage on Exact Sciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $60.00 price objective for the company. Guggenheim reiterated a "buy" rating and set a $60.00 target price on shares of Exact Sciences in a research note on Friday, April 11th. Finally, Barclays cut their target price on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

Exact Sciences Price Performance

Shares of NASDAQ EXAS traded down $1.14 during midday trading on Friday, reaching $52.19. The stock had a trading volume of 604,554 shares, compared to its average volume of 2,583,011. The stock has a 50-day moving average of $54.36 and a 200-day moving average of $51.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.38 and a current ratio of 2.73. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of -9.48, a price-to-earnings-growth ratio of 11.81 and a beta of 0.95. Exact Sciences Corporation has a 12-month low of $39.97 and a 12-month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.16. The firm had revenue of $706.79 million during the quarter, compared to analysts' expectations of $688.58 million. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.60) earnings per share. As a group, research analysts anticipate that Exact Sciences Corporation 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.