Bank of America Corp DE Trims Stake in Genomic Health, Inc. (GHDX)

Bank of America Corp DE lessened its holdings in shares of Genomic Health, Inc. (NASDAQ:GHDX) by 28.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,126 shares of the medical research company’s stock after selling 43,147 shares during the quarter. Bank of America Corp DE’s holdings in Genomic Health were worth $5,349,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in shares of Genomic Health by 6.3% during the second quarter. Rhumbline Advisers now owns 21,993 shares of the medical research company’s stock worth $1,108,000 after buying an additional 1,310 shares during the period. Northern Trust Corp increased its stake in shares of Genomic Health by 0.6% during the first quarter. Northern Trust Corp now owns 269,424 shares of the medical research company’s stock worth $8,430,000 after buying an additional 1,608 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Genomic Health by 2.4% during the first quarter. Allianz Asset Management GmbH now owns 77,515 shares of the medical research company’s stock worth $2,425,000 after buying an additional 1,840 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Genomic Health by 15.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,738 shares of the medical research company’s stock worth $844,000 after buying an additional 2,291 shares during the period. Finally, Globeflex Capital L P purchased a new stake in shares of Genomic Health during the second quarter worth approximately $116,000. Hedge funds and other institutional investors own 89.31% of the company’s stock.

A number of analysts recently weighed in on GHDX shares. Zacks Investment Research upgraded shares of Genomic Health from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Wednesday, August 29th. Piper Jaffray Companies upped their target price on shares of Genomic Health from $34.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Cowen restated a “hold” rating and set a $50.00 target price on shares of Genomic Health in a research note on Monday, August 6th. Raymond James started coverage on shares of Genomic Health in a research note on Tuesday, October 23rd. They set a “market perform” rating on the stock. Finally, Canaccord Genuity upped their target price on shares of Genomic Health from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Genomic Health presently has an average rating of “Hold” and a consensus price target of $46.11.



In other Genomic Health news, insider Kimberly J. Popovits sold 60,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $52.60, for a total value of $3,156,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Fred E. Cohen sold 8,250 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $56.22, for a total transaction of $463,815.00. Following the completion of the transaction, the director now owns 75,572 shares in the company, valued at $4,248,657.84. The disclosure for this sale can be found here. Insiders sold 207,529 shares of company stock worth $12,546,920 over the last quarter. 45.80% of the stock is currently owned by insiders.

Shares of Genomic Health stock opened at $67.11 on Friday. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 6,711.00 and a beta of 0.46. Genomic Health, Inc. has a 52 week low of $26.54 and a 52 week high of $72.83.

Genomic Health (NASDAQ:GHDX) last announced its quarterly earnings results on Thursday, August 2nd. The medical research company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.19. The company had revenue of $95.60 million for the quarter, compared to analyst estimates of $92.23 million. Genomic Health had a net margin of 1.18% and a return on equity of 9.09%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, equities research analysts anticipate that Genomic Health, Inc. will post 0.54 EPS for the current fiscal year.

About Genomic Health

Genomic Health, Inc, a healthcare company, provides actionable genomic information to personalize cancer treatment decisions worldwide. It develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, allowing 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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