Genomic Health Inc. (GHDX) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. decreased its stake in Genomic Health Inc. (NASDAQ:GHDX) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,909 shares of the company’s stock after selling 284 shares during the period. PNC Financial Services Group Inc.’s holdings in Genomic Health were worth $205,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of GHDX. HBK Investments L P acquired a new position in shares of Genomic Health during the first quarter worth about $886,000. California State Teachers Retirement System increased its position in Genomic Health by 4.0% in the second quarter. California State Teachers Retirement System now owns 39,167 shares of the company’s stock worth $1,014,000 after buying an additional 1,510 shares during the period. Kimelman & Baird LLC increased its position in 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 purchased a new position in Genomic Health during the first quarter worth $15,639,000. Finally, BlackRock Inc. increased its position in 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. 88.92% of the stock is owned by hedge funds and other institutional investors.
Genomic Health Inc. (NASDAQ:GHDX) traded up 1.55% during trading on Wednesday, reaching $30.07. The company had a trading volume of 55,305 shares. The stock’s market capitalization is $1.00 billion. The stock has a 50 day moving average of $27.69 and a 200-day moving average of $27.04. Genomic Health Inc. has a 12-month low of $20.05 and a 12-month high of $35.79.
Genomic Health (NASDAQ:GHDX) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.18) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.18). Genomic Health had a negative net margin of 8.84% and a negative return on equity of 21.02%. The firm earned $81.97 million during the quarter, compared to the consensus estimate of $81.27 million. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Genomic Health Inc. will post ($0.47) earnings per share for the current fiscal year.
A number of research analysts have weighed in on GHDX shares. Bank of America Corp. set a $28.00 target price on Genomic Health and gave the stock a “sell” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded Genomic Health from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday. Jefferies Group upped their target price on Genomic Health from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, August 17th. Leerink Swann reiterated a “buy” rating on shares of Genomic Health in a report on Tuesday, June 21st. Finally, Canaccord Genuity reiterated a “buy” rating and set a $38.00 target price on shares of Genomic Health in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $32.50.
In related news, insider Steven Shak sold 5,000 shares of Genomic Health stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $27.42, for a total transaction of $137,100.00. Following the transaction, the insider now directly owns 332,207 shares of the company’s stock, valued at $9,109,115.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James J. Vaughn sold 3,000 shares of Genomic Health stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $28.74, for a total transaction of $86,220.00. The disclosure for this sale 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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