California Public Employees Retirement System Cuts Stake in Genomic Health, Inc. (GHDX)

California Public Employees Retirement System reduced its stake in shares of Genomic Health, Inc. (NASDAQ:GHDX) by 9.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 60,200 shares of the medical research company’s stock after selling 6,000 shares during the period. California Public Employees Retirement System owned 0.18% of Genomic Health worth $1,896,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Dubuque Bank & Trust Co. acquired a new position in shares of Genomic Health during the first quarter valued at $142,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Genomic Health during the first quarter valued at $218,000. Stonebridge Capital Management Inc. acquired a new position in shares of Genomic Health during the first quarter valued at $259,000. Envestnet Asset Management Inc. boosted its position in shares of Genomic Health by 13.6% in the first quarter. Envestnet Asset Management Inc. now owns 8,282 shares of the medical research company’s stock valued at $259,000 after buying an additional 993 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in shares of Genomic Health by 4.1% in the first quarter. Wetherby Asset Management Inc. now owns 8,595 shares of the medical research company’s stock valued at $271,000 after buying an additional 340 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of Genomic Health, Inc. (NASDAQ GHDX) traded up 1.00% during midday trading on Friday, hitting $30.22. 79,065 shares of the stock traded hands. The firm’s market capitalization is $1.05 billion. The company’s 50-day moving average is $32.31 and its 200 day moving average is $31.11. Genomic Health, Inc. has a 52 week low of $25.66 and a 52 week high of $33.97.

Genomic Health (NASDAQ:GHDX) last released its quarterly earnings results on Tuesday, August 1st. The medical research company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. Genomic Health had a negative return on equity of 4.33% and a negative net margin of 1.50%. The business had revenue of $85.50 million during the quarter, compared to the consensus estimate of $86.08 million. During the same quarter in the previous year, the business posted ($0.18) earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Analysts anticipate that Genomic Health, Inc. will post $0.01 earnings per share for the current year.

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Several research firms have commented on GHDX. BidaskClub cut shares of Genomic Health from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research cut shares of Genomic Health from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies reissued a “hold” rating and set a $31.00 target price on shares of Genomic Health in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and set a $33.00 target price on shares of Genomic Health in a research report on Monday, June 12th. Finally, Raymond James Financial, Inc. reissued 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. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $32.43.

In related news, insider Steven Shak sold 5,000 shares of Genomic Health stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $29.40, for a total transaction of $147,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kimberly J. Popovits sold 1,468 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $32.67, for a total transaction of $47,959.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,642 shares of company stock valued at $2,342,466. Corporate insiders own 46.20% of the company’s stock.

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.

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

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