Bank of New York Mellon Corp increased its position in Genomic Health Inc. (NASDAQ:GHDX) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 88,963 shares of the company’s stock after buying an additional 2,315 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Genomic Health worth $2,304,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of GHDX. HBK Investments L P bought a new stake in shares of Genomic Health during the first quarter worth about $886,000. Kimelman & Baird LLC raised its stake in shares of Genomic Health by 2.3% in the first quarter. Kimelman & Baird LLC now owns 21,940 shares of the company’s stock worth $543,000 after buying an additional 500 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Genomic Health during the first quarter worth about $15,639,000. BlackRock Inc. raised its stake in shares of Genomic Health by 1.6% in the first quarter. BlackRock Inc. now owns 46,991 shares of the company’s stock worth $1,164,000 after buying an additional 719 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Genomic Health by 125.6% in the first quarter. Prudential Financial Inc. now owns 42,930 shares of the company’s stock worth $1,063,000 after buying an additional 23,900 shares during the period. Institutional investors and hedge funds own 88.92% of the company’s stock.
Shares of Genomic Health Inc. (NASDAQ:GHDX) traded up 0.78% during trading on Wednesday, hitting $29.84. 122,356 shares of the stock traded hands. Genomic Health Inc. has a 52 week low of $20.05 and a 52 week high of $35.79. The firm’s 50-day moving average price is $27.69 and its 200-day moving average price is $27.04. The company’s market cap is $995.04 million.
Genomic Health (NASDAQ:GHDX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). Genomic Health had a negative return on equity of 21.02% and a negative net margin of 8.84%. The company earned $81.97 million during the quarter, compared to analyst estimates of $81.27 million. During the same period in the previous year, the company earned ($0.29) earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts anticipate that Genomic Health Inc. will post ($0.47) earnings per share for the current year.
GHDX has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Genomic Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Jefferies Group lifted their price target on shares of Genomic Health from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, August 17th. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Genomic Health in a report on Friday, August 5th. Leerink Swann reaffirmed a “buy” rating on shares of Genomic Health in a report on Tuesday, June 21st. Finally, Bank of America Corp. set a $28.00 price objective on shares of Genomic Health and gave the stock a “sell” rating in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.50.
In other news, insider Steven Shak sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $27.42, for a total transaction of $137,100.00. Following the completion of the transaction, the insider now directly owns 332,207 shares in the company, valued at $9,109,115.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Felix Baker purchased 100,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were acquired at an average price of $27.02 per share, with a total value of $2,702,000.00. The disclosure for this purchase can be found here. Insiders own 47.00% of the company’s stock.
About Genomic Health
Genomic Health, Inc is a healthcare company, which provides genomic-based diagnostic tests for the treatment of early stage cancer. The Company offers its Oncotype DX tests as a clinical laboratory service, where it analyzes the expression levels of genes in tumor tissue samples and provides physicians with a quantitative gene expression profile expressed as a single quantitative score, which it calls a Recurrence Score for invasive breast cancer and colon cancer, a DCIS Score for ductal carcinoma in situ (DCIS) and a Genomic Prostate Score for prostate cancer.
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