Bank Pictet & Cie Europe AG Sells 14,864 Shares of Exact Sciences Corporation $EXAS

Bank Pictet & Cie Europe AG lowered its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,813 shares of the medical research company’s stock after selling 14,864 shares during the period. Bank Pictet & Cie Europe AG owned about 0.08% of Exact Sciences worth $14,910,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EXAS. Westside Investment Management Inc. raised its stake in shares of Exact Sciences by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after purchasing an additional 271 shares during the period. Quent Capital LLC bought a new position in Exact Sciences during the third quarter valued at about $48,000. Bollard Group LLC purchased a new stake in Exact Sciences during the third quarter worth about $55,000. OFI Invest Asset Management raised its position in Exact Sciences by 241.2% in the third quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company’s stock worth $59,000 after acquiring an additional 767 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in Exact Sciences by 463.0% in the second quarter. China Universal Asset Management Co. Ltd. now owns 1,216 shares of the medical research company’s stock worth $65,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Evercore set a $105.00 target price on shares of Exact Sciences and gave the company an “in-line” rating in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a report on Thursday, January 22nd. Mizuho reiterated a “neutral” rating and issued a $105.00 price objective (up from $85.00) on shares of Exact Sciences in a research note on Tuesday, January 20th. Zacks Research lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, BTIG Research reissued a “neutral” rating on shares of Exact Sciences in a research report on Tuesday, March 24th. Twenty-one equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $92.13.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $104.91 on Thursday. The firm has a market capitalization of $20.03 billion, a PE ratio of -95.37, a P/E/G ratio of 2.02 and a beta of 1.41. The company has a quick ratio of 2.17, a current ratio of 2.43 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average price of $103.47 and a two-hundred day moving average price of $88.72. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $104.98.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). The business had revenue of $878.38 million during the quarter, compared to the consensus estimate of $860.59 million. Exact Sciences had a negative net margin of 6.40% and a positive return on equity of 0.53%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the firm earned ($0.06) EPS. Equities analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.