OppenheimerFunds Inc. Raises Position in Genomic Health, Inc. (NASDAQ:GHDX)

OppenheimerFunds Inc. increased its position in shares of Genomic Health, Inc. (NASDAQ:GHDX) by 30.0% in the 1st quarter, Holdings Channel reports. The firm owned 469,560 shares of the medical research company’s stock after acquiring an additional 108,337 shares during the period. OppenheimerFunds Inc.’s holdings in Genomic Health were worth $32,893,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GHDX. TIAA CREF Investment Management LLC boosted its stake in Genomic Health by 38.0% during the third quarter. TIAA CREF Investment Management LLC now owns 242,839 shares of the medical research company’s stock worth $17,052,000 after buying an additional 66,873 shares during the period. Advisors Asset Management Inc. boosted its stake in Genomic Health by 144.5% during the fourth quarter. Advisors Asset Management Inc. now owns 12,177 shares of the medical research company’s stock worth $784,000 after buying an additional 7,196 shares during the period. Rhumbline Advisers boosted its stake in Genomic Health by 36.7% during the fourth quarter. Rhumbline Advisers now owns 29,707 shares of the medical research company’s stock worth $1,913,000 after buying an additional 7,974 shares during the period. SG Americas Securities LLC boosted its stake in Genomic Health by 74.1% during the fourth quarter. SG Americas Securities LLC now owns 8,944 shares of the medical research company’s stock worth $576,000 after buying an additional 3,807 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Genomic Health by 22.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,402 shares of the medical research company’s stock worth $1,572,000 after buying an additional 4,422 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:GHDX traded up $1.23 on Wednesday, hitting $52.36. 8,095 shares of the company’s stock were exchanged, compared to its average volume of 480,892. Genomic Health, Inc. has a 12 month low of $48.00 and a 12 month high of $92.18. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 49.61 and a beta of 1.05. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 0.19.

Genomic Health (NASDAQ:GHDX) last released its earnings results on Tuesday, May 7th. The medical research company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $108.80 million during the quarter, compared to the consensus estimate of $106.75 million. Genomic Health had a return on equity of 18.70% and a net margin of 10.35%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. As a group, equities research analysts predict that Genomic Health, Inc. will post 1.44 EPS for the current fiscal year.

GHDX has been the subject of several research analyst reports. Zacks Investment Research downgraded Genomic Health from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. BidaskClub downgraded Genomic Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 28th. Piper Jaffray Companies lifted their target price on Genomic Health to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, February 21st. ValuEngine downgraded Genomic Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 5th. Finally, Needham & Company LLC reiterated a “strong-buy” rating and set a $97.00 target price (up from $86.00) on shares of Genomic Health in a research report on Thursday, February 21st. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.63.

In related news, Director Bros. Advisors Lp Baker sold 270,006 shares of Genomic Health stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $74.45, for a total value of $20,101,946.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Frederic Pla sold 5,700 shares of Genomic Health stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $75.02, for a total value of $427,614.00. The disclosure for this sale can be found here. Insiders sold 1,122,964 shares of company stock valued at $78,767,595 over the last 90 days. 31.30% of the stock is currently owned by corporate insiders.

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Genomic Health Profile

Genomic Health, Inc, a healthcare company, provides clinically actionable genomic information to personalize cancer treatment decisions in the United States and internationally. The company develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, which allows physicians and patients to make individualized treatment decisions.

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

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