Banque Pictet & Cie SA Lowers Position in Exact Sciences Corporation $EXAS

Banque Pictet & Cie SA decreased its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 77.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,415 shares of the medical research company’s stock after selling 151,772 shares during the quarter. Banque Pictet & Cie SA’s holdings in Exact Sciences were worth $4,612,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in shares of Exact Sciences by 105.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock valued at $245,802,000 after acquiring an additional 2,310,139 shares during the period. ARK Investment Management LLC raised its stake in Exact Sciences by 6,072,588.9% during the 3rd quarter. ARK Investment Management LLC now owns 2,186,168 shares of the medical research company’s stock worth $119,605,000 after acquiring an additional 2,186,132 shares during the period. Holocene Advisors LP lifted its holdings in Exact Sciences by 189.5% during the second quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after purchasing an additional 1,404,086 shares in the last quarter. Amova Asset Management Americas Inc. lifted its holdings in Exact Sciences by 671.5% during the third quarter. Amova Asset Management Americas Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after purchasing an additional 1,119,830 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Exact Sciences by 643.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock worth $70,390,000 after purchasing an additional 1,113,459 shares during the period. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $104.91 on Friday. The business’s 50-day moving average is $103.52 and its 200 day moving average is $88.83. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $104.98. The company has a market capitalization of $20.03 billion, a P/E ratio of -95.37, a P/E/G ratio of 2.02 and a beta of 1.41. The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.29). The firm had revenue of $878.38 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. On average, equities research analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EXAS has been the topic of several recent analyst reports. BTIG Research restated a “neutral” rating on shares of Exact Sciences in a research report on Tuesday, March 24th. Evercore set a $105.00 target price on shares of Exact Sciences and gave the stock an “in-line” rating in a report on Monday, January 5th. Mizuho reiterated a “neutral” rating and issued a $105.00 price target (up from $85.00) on shares of Exact Sciences in a research note on Tuesday, January 20th. Zacks Research cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a research note on Thursday, January 22nd. Twenty-one investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $92.13.

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.