PNC Financial Services Group Inc. increased its holdings in shares of Genomic Health, Inc. (NASDAQ:GHDX) by 5,461.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,822 shares of the medical research company’s stock after purchasing an additional 40,088 shares during the quarter. PNC Financial Services Group Inc. owned 0.11% of Genomic Health worth $2,867,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Globeflex Capital L P acquired a new stake in Genomic Health during the 2nd quarter worth approximately $116,000. Sun Life Financial INC acquired a new stake in Genomic Health during the 2nd quarter worth approximately $122,000. SG Americas Securities LLC acquired a new stake in Genomic Health during the 2nd quarter worth approximately $162,000. Teacher Retirement System of Texas acquired a new stake in Genomic Health during the 2nd quarter worth approximately $213,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Genomic Health during the 3rd quarter worth approximately $350,000. 89.21% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Steven Shak sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $63.05, for a total transaction of $346,775.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Frederic Pla sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $65.43, for a total transaction of $98,145.00. The disclosure for this sale can be found here. Insiders sold 1,635,985 shares of company stock valued at $126,469,701 in the last ninety days. 45.80% of the stock is owned by corporate insiders.
Shares of NASDAQ:GHDX opened at $72.90 on Friday. Genomic Health, Inc. has a 52-week low of $26.54 and a 52-week high of $92.18. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 92.07 and a beta of 0.40.
Genomic Health (NASDAQ:GHDX) last issued its quarterly earnings data on Tuesday, November 6th. The medical research company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.28. Genomic Health had a net margin of 4.95% and a return on equity of 14.05%. The company had revenue of $101.30 million during the quarter, compared to the consensus estimate of $94.27 million. During the same quarter last year, the company earned ($0.06) earnings per share. Genomic Health’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts forecast that Genomic Health, Inc. will post 1.06 EPS for the current fiscal year.
Several brokerages have issued reports on GHDX. Zacks Investment Research reaffirmed a “hold” rating on shares of Genomic Health in a research report on Tuesday, November 13th. Canaccord Genuity reaffirmed a “buy” rating and issued a $82.00 price objective (up previously from $70.00) on shares of Genomic Health in a research report on Wednesday, November 7th. BidaskClub downgraded shares of Genomic Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Finally, Raymond James began coverage on shares of Genomic Health in a research report on Tuesday, October 23rd. They issued a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $48.33.
Genomic Health Profile
Genomic Health, Inc, a healthcare company, provides actionable genomic information to personalize cancer treatment decisions worldwide. It develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, allowing physicians and patients to make individualized treatment decisions.
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