OppenheimerFunds Inc. lifted its holdings in shares of Genomic Health, Inc. (NASDAQ:GHDX) by 30.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 469,560 shares of the medical research company’s stock after purchasing an additional 108,337 shares during the quarter. OppenheimerFunds Inc. owned about 1.27% of Genomic Health worth $32,893,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. grew its holdings in shares of Genomic Health by 0.5% during the 4th quarter. Macquarie Group Ltd. now owns 38,200 shares of the medical research company’s stock worth $2,461,000 after purchasing an additional 200 shares during the period. Royce & Associates LP grew its holdings in shares of Genomic Health by 22.8% during the 4th quarter. Royce & Associates LP now owns 1,473 shares of the medical research company’s stock worth $95,000 after purchasing an additional 273 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Genomic Health by 166.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 790 shares of the medical research company’s stock worth $55,000 after purchasing an additional 493 shares during the period. Advisor Group Inc. grew its holdings in shares of Genomic Health by 34.9% during the 4th quarter. Advisor Group Inc. now owns 1,995 shares of the medical research company’s stock worth $129,000 after purchasing an additional 516 shares during the period. Finally, Quantamental Technologies LLC grew its holdings in shares of Genomic Health by 19.1% during the 1st quarter. Quantamental Technologies LLC now owns 3,332 shares of the medical research company’s stock worth $233,000 after purchasing an additional 534 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.
GHDX traded up $1.23 during mid-day trading on Wednesday, hitting $52.36. 8,095 shares of the stock were exchanged, compared to its average volume of 480,892. Genomic Health, Inc. has a 1-year low of $48.00 and a 1-year high of $92.18. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 49.61 and a beta of 1.05.
Genomic Health (NASDAQ:GHDX) last posted its earnings results on Tuesday, May 7th. The medical research company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The firm had revenue of $108.80 million for the quarter, compared to analyst estimates of $106.75 million. Genomic Health had a return on equity of 18.70% and a net margin of 10.35%. Genomic Health’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, research analysts forecast that Genomic Health, Inc. will post 1.44 earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. ValuEngine cut Genomic Health from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. BidaskClub lowered Genomic Health from a “buy” rating to a “hold” rating in a research note on Saturday, March 30th. Canaccord Genuity reissued a “buy” rating and set a $85.00 target price (down previously from $95.00) on shares of Genomic Health in a research note on Wednesday, May 8th. Needham & Company LLC reissued a “strong-buy” rating and set a $69.00 target price (down previously from $97.00) on shares of Genomic Health in a research note on Thursday, May 9th. Finally, Piper Jaffray Companies increased their target price on Genomic Health to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, February 21st. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $62.63.
In other Genomic Health news, insider Steven Shak sold 75,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $68.56, for a total value of $5,142,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James J. Vaughn sold 8,745 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $52.47, for a total value of $458,850.15. The disclosure for this sale can be found here. Insiders sold a total of 1,122,964 shares of company stock worth $78,767,595 in the last ninety days. 31.30% of the stock is owned by corporate insiders.
Genomic Health Company Profile
Genomic Health, Inc, a healthcare company, provides clinically actionable genomic information to personalize cancer treatment decisions in the United States and internationally. The company develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, which allows physicians and patients to make individualized treatment decisions.
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