Nordea Investment Management AB raised its stake in shares of Genomic Health Inc. (NASDAQ:GHDX) by 73.1% during the third quarter, Holdings Channel reports. The fund owned 41,637 shares of the company’s stock after buying an additional 17,579 shares during the period. Nordea Investment Management AB owned approximately 0.12% of Genomic Health worth $1,204,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Bank of Montreal Can purchased a new stake in Genomic Health during the second quarter worth approximately $187,000. Stonebridge Capital Management Inc. purchased a new stake in Genomic Health during the third quarter worth approximately $223,000. AQR Capital Management LLC purchased a new stake in Genomic Health during the second quarter worth approximately $270,000. American International Group Inc. boosted its stake in Genomic Health by 3.2% in the second quarter. American International Group Inc. now owns 10,753 shares of the company’s stock worth $278,000 after buying an additional 334 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Genomic Health by 3.0% in the second quarter. Nationwide Fund Advisors now owns 11,932 shares of the company’s stock worth $309,000 after buying an additional 351 shares in the last quarter. Institutional investors own 89.28% of the company’s stock.
Genomic Health Inc. (NASDAQ:GHDX) remained flat at $31.45 during trading on Thursday. The stock had a trading volume of 229,216 shares. The company’s market cap is $1.05 billion. Genomic Health Inc. has a one year low of $22.00 and a one year high of $35.79. The company’s 50 day moving average price is $30.50 and its 200-day moving average price is $28.15.
Genomic Health (NASDAQ:GHDX) last released its earnings results on Tuesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $82.30 million for the quarter, compared to analyst estimates of $83.24 million. Genomic Health had a negative net margin of 5.77% and a negative return on equity of 14.13%. Genomic Health’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) earnings per share. Analysts expect that Genomic Health Inc. will post ($0.46) earnings per share for the current year.
A number of analysts recently commented on GHDX shares. Zacks Investment Research cut shares of Genomic Health from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th. Canaccord Genuity set a $38.00 price objective on shares of Genomic Health and gave the company a “buy” rating in a research report on Wednesday, November 2nd. Jefferies Group upped their price objective on shares of Genomic Health from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, August 17th. Finally, 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.50.
In related news, COO G Bradley Cole sold 8,290 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $30.59, for a total value of $253,591.10. Following the transaction, the chief operating officer now owns 39,426 shares in the company, valued at $1,206,041.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven Shak sold 5,000 shares of Genomic Health stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $26.83, for a total transaction of $134,150.00. Following the completion of the sale, the insider now directly owns 332,207 shares of the company’s stock, valued at $8,913,113.81. The disclosure for this sale can be found here. 47.00% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding GHDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genomic Health Inc. (NASDAQ:GHDX).
Receive News & Ratings for Genomic Health Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Genomic Health Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.