Pictet Asset Management Holding SA Buys 486,493 Shares of Tempus AI, Inc. $TEM

Key Points

• Pictet Asset Management sharply increased its Tempus AI stake, buying 486,493 shares in the third quarter to reach 502,897 shares, valued at about $41.2 million.
• Tempus AI reported quarterly earnings of $0.07 per share, beating estimates of a $0.09 loss, while revenue rose 23.1% year over year to $411.5 million.
• Insiders sold 1.24 million shares worth $85.4 million over the past 90 days. Analysts’ consensus rating remains “Hold,” with an average price target of $79.37.

Pictet Asset Management Holding SA grew its stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 2,965.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,897 shares of the company's stock after buying an additional 486,493 shares during the period. Pictet Asset Management Holding SA owned approximately 0.28% of Tempus AI worth $41,233,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Amova Asset Management Americas Inc. increased its stake in Tempus AI by 23.4% in the first quarter. Amova Asset Management Americas Inc. now owns 4,326,313 shares of the company's stock valued at $195,549,000 after acquiring an additional 821,490 shares during the last quarter. Eagle Health Investments LP purchased a new stake in Tempus AI during the first quarter valued at about $11,588,000. Swiss National Bank lifted its stake in Tempus AI by 0.3% during the first quarter. Swiss National Bank now owns 183,500 shares of the company's stock worth $8,298,000 after purchasing an additional 600 shares during the last quarter. Aristotle Atlantic Partners LLC bought a new stake in Tempus AI during the first quarter worth about $6,179,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Tempus AI by 3.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 125,647 shares of the company's stock worth $5,682,000 after purchasing an additional 4,100 shares during the last quarter. Institutional investors own 24.22% of the company's stock.

Insider Transactions at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $77.47, for a total transaction of $19,367,500.00. Following the sale, the chief executive officer directly owned 100,000 shares in the company, valued at $7,747,000. The trade was a 71.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Polovin sold 22,148 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $49.61, for a total value of $1,098,762.28. Following the completion of the sale, the executive vice president directly owned 146,067 shares in the company, valued at approximately $7,246,383.87. The trade was a 13.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,237,227 shares of company stock worth $85,388,983 over the last 90 days. 24.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TEM has been the subject of a number of recent research reports. Raymond James Financial set a $80.00 target price on Tempus AI in a research report on Wednesday, September 2nd. Piper Sandler upgraded shares of Tempus AI from a "neutral" rating to an "overweight" rating and increased their price target for the company from $56.00 to $76.00 in a research report on Tuesday, September 1st. Guggenheim lifted their price target on shares of Tempus AI from $65.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, October 1st. UBS Group began coverage on shares of Tempus AI in a report on Wednesday, September 9th. They issued a "neutral" rating and a $70.00 price objective for the company. Finally, Cantor Fitzgerald upped their price objective on shares of Tempus AI from $80.00 to $92.00 and gave the company an "overweight" rating in a research note on Tuesday, November 3rd. Eleven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tempus AI currently has a consensus rating of "Hold" and a consensus target price of $79.37.

Tempus AI Stock Down 4.6%

Shares of Tempus AI stock opened at $80.54 on Wednesday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 2.48 and a current ratio of 2.61. Tempus AI, Inc. has a 52-week low of $40.77 and a 52-week high of $89.09. The company's 50 day moving average price is $72.08 and its 200-day moving average price is $57.40. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of -75.98 and a beta of 3.61.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.16. The business had revenue of $411.54 million during the quarter, compared to analyst estimates of $409.39 million. Tempus AI had a negative return on equity of 47.00% and a negative net margin of 12.54%. Tempus AI's quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.46) EPS. Equities research analysts forecast that Tempus AI, Inc. will post -1.20 EPS for the current year.

Tempus AI Profile

Tempus AI is a technology company focused on applying data and artificial intelligence to healthcare, with an emphasis on precision medicine. Its platform combines clinical and molecular data to help physicians make more informed treatment decisions and support life-sciences research. The company provides genomic sequencing and other diagnostic testing, software tools for analyzing patient data, and services that help identify clinical trial opportunities. Its work spans oncology and other areas of medicine, and it collaborates with healthcare providers and pharmaceutical and biotechnology companies.

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