Emerald Acquisition Ltd. Buys Shares of 76,565 Genomic Health Inc. (GHDX)
Emerald Acquisition Ltd. bought a new stake in Genomic Health Inc. (NASDAQ:GHDX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 76,565 shares of the company’s stock, valued at approximately $1,983,000. Emerald Acquisition Ltd. owned approximately 0.23% of Genomic Health as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Panagora Asset Management Inc. boosted its stake in Genomic Health by 7.1% in the first quarter. Panagora Asset Management Inc. now owns 15,817 shares of the company’s stock valued at $392,000 after buying an additional 1,042 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Genomic Health by 54.0% in the first quarter. Renaissance Technologies LLC now owns 446,021 shares of the company’s stock valued at $11,048,000 after buying an additional 156,421 shares in the last quarter. HBK Investments L P acquired a new stake in Genomic Health during the first quarter valued at approximately $886,000. Geode Capital Management LLC boosted its stake in Genomic Health by 13.4% in the first quarter. Geode Capital Management LLC now owns 158,078 shares of the company’s stock valued at $3,915,000 after buying an additional 18,645 shares in the last quarter. Finally, Kimelman & Baird LLC boosted its stake in Genomic Health by 2.3% in the first quarter. Kimelman & Baird LLC now owns 21,940 shares of the company’s stock valued at $543,000 after buying an additional 500 shares in the last quarter. 88.92% of the stock is owned by institutional investors and hedge funds.
Shares of Genomic Health Inc. (NASDAQ:GHDX) traded up 2.92% during mid-day trading on Friday, hitting $28.92. The company had a trading volume of 150,139 shares. The firm’s market capitalization is $964.37 million. Genomic Health Inc. has a 52 week low of $20.05 and a 52 week high of $35.79. The firm has a 50-day moving average price of $27.55 and a 200-day moving average price of $26.89.
Genomic Health (NASDAQ:GHDX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting 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 had revenue of $81.97 million for the quarter, compared to the consensus estimate of $81.27 million. During the same quarter in the previous year, the business earned ($0.29) EPS. Genomic Health’s revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that Genomic Health Inc. will post ($0.47) earnings per share for the current year.
GHDX has been the topic of several recent research reports. Canaccord Genuity reiterated a “buy” rating and issued a $38.00 price target on shares of Genomic Health in a report on Friday, August 5th. Leerink Swann reiterated a “buy” rating on shares of Genomic Health in a report on Tuesday, June 21st. Jefferies Group increased their price target on Genomic Health from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, August 17th. Zacks Investment Research upgraded Genomic Health from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Finally, Bank of America Corp. set a $28.00 price target on Genomic Health and gave the stock a “sell” rating in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $32.44.
In other Genomic Health news, COO G Bradley Cole sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $26.64, for a total transaction of $133,200.00. Following the transaction, the chief operating officer now owns 40,426 shares in the company, valued at approximately $1,076,948.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Felix Baker bought 100,000 shares of Genomic Health stock in a transaction on Monday, August 15th. The shares were purchased at an average price of $27.02 per share, for a total transaction of $2,702,000.00. The disclosure for this purchase can be found here. Corporate 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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