Genomic Health, Inc. (GHDX) Stake Boosted by American International Group Inc.

American International Group Inc. raised its stake in Genomic Health, Inc. (NASDAQ:GHDX) by 7.1% during the first quarter, Holdings Channel reports. The institutional investor owned 11,505 shares of the medical research company’s stock after buying an additional 765 shares during the period. American International Group Inc.’s holdings in Genomic Health were worth $362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GHDX. Dubuque Bank & Trust Co. acquired a new position in shares of Genomic Health during the first quarter valued at approximately $142,000. Russell Investments Group Ltd. acquired a new position in shares of Genomic Health during the fourth quarter valued at approximately $575,000. Norges Bank acquired a new position in shares of Genomic Health during the fourth quarter valued at approximately $4,546,000. Teachers Advisors LLC increased its position in shares of Genomic Health by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 31,801 shares of the medical research company’s stock valued at $935,000 after buying an additional 1,838 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Genomic Health by 28.7% in the first quarter. Nordea Investment Management AB now owns 53,607 shares of the medical research company’s stock valued at $1,688,000 after buying an additional 11,970 shares in the last quarter. 89.45% of the stock is currently owned by institutional investors.

Shares of Genomic Health, Inc. (NASDAQ:GHDX) opened at 33.27 on Thursday. Genomic Health, Inc. has a 52-week low of $25.66 and a 52-week high of $33.97. The company’s market capitalization is $1.14 billion. The stock’s 50 day moving average price is $32.57 and its 200-day moving average price is $30.84.

Genomic Health (NASDAQ:GHDX) last announced its earnings results on Tuesday, May 9th. The medical research company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $84 million for the quarter, compared to the consensus estimate of $86.21 million. Genomic Health had a negative return on equity of 6.80% and a negative net margin of 2.53%. Genomic Health’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) EPS. On average, analysts expect that Genomic Health, Inc. will post $0.02 earnings per share for the current year.

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Several research analysts have commented on GHDX shares. Zacks Investment Research downgraded Genomic Health from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 18th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Genomic Health in a research report on Wednesday, May 3rd. They noted that the move was a valuation call. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $33.00 price target on shares of Genomic Health in a research report on Monday, June 12th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Genomic Health has a consensus rating of “Hold” and an average target price of $32.00.

In other Genomic Health news, insider Steven Shak sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $29.40, for a total transaction of $147,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Fred E. Cohen sold 16,500 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $29.88, for a total value of $493,020.00. Following the transaction, the director now owns 74,145 shares in the company, valued at approximately $2,215,452.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,468 shares of company stock worth $2,154,495. 46.20% of the stock is owned by corporate insiders.

About Genomic Health

Genomic Health, Inc is a healthcare company that provides genomic-based diagnostic tests to personalize cancer treatment. The Company develops and commercializes genomic-based clinical laboratory services. The Company’s Oncotype IQ Genomic Intelligence Platform is consisted of its flagship line of Oncotype DX gene expression tests, as well as its Oncotype SEQ Liquid Select test.

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Institutional Ownership by Quarter for Genomic Health (NASDAQ:GHDX)

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