Banque Pictet & Cie SA Purchases 12,421 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Banque Pictet & Cie SA lifted its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,034 shares of the medical research company’s stock after purchasing an additional 12,421 shares during the quarter. Banque Pictet & Cie SA owned approximately 0.10% of Exact Sciences worth $7,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of EXAS. Benjamin F. Edwards & Company Inc. boosted its holdings in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares in the last quarter. Able Wealth Management LLC acquired a new stake in Exact Sciences in the 4th quarter valued at $45,000. EverSource Wealth Advisors LLC raised its stake in Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after acquiring an additional 340 shares in the last quarter. Fortitude Family Office LLC acquired a new position in Exact Sciences during the first quarter worth $55,000. Finally, GAMMA Investing LLC boosted its stake in shares of Exact Sciences by 48.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,362 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 444 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on EXAS shares. Canaccord Genuity Group cut their price target on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Scotiabank initiated coverage on Exact Sciences in a report on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 target price on the stock. BTIG Research dropped their price target on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Evercore ISI decreased their target price on Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Stifel Nicolaus lowered their target price on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

Exact Sciences Trading Up 1.1 %

EXAS stock traded up $0.64 during midday trading on Friday, reaching $59.70. The company’s stock had a trading volume of 1,690,426 shares, compared to its average volume of 2,648,380. The business’s 50-day simple moving average is $49.43 and its 200-day simple moving average is $55.43. The company has a quick ratio of 1.45, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $85.71. The stock has a market cap of $11.02 billion, a PE ratio of -45.23 and a beta of 1.22.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business had revenue of $699.26 million during the quarter, compared to analysts’ expectations of $690.02 million. During the same period in the previous year, the firm earned ($0.45) earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that Exact Sciences Co. will post -1.17 EPS for the current year.

About Exact Sciences

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.