Lord Abbett & CO. LLC Sells 41,231 Shares of Genomic Health, Inc. (GHDX)

Lord Abbett & CO. LLC lowered its holdings in Genomic Health, Inc. (NASDAQ:GHDX) by 22.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,392 shares of the medical research company’s stock after selling 41,231 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.41% of Genomic Health worth $4,602,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Eagle Asset Management Inc. raised its stake in shares of Genomic Health by 18.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 379,473 shares of the medical research company’s stock worth $12,351,000 after acquiring an additional 58,920 shares in the last quarter. American International Group Inc. raised its stake in shares of Genomic Health by 7.1% during the 1st quarter. American International Group Inc. now owns 11,505 shares of the medical research company’s stock worth $362,000 after acquiring an additional 765 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Genomic Health by 10.9% during the 2nd quarter. Renaissance Technologies LLC now owns 813,300 shares of the medical research company’s stock worth $26,473,000 after acquiring an additional 80,100 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Genomic Health by 26.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 370,806 shares of the medical research company’s stock worth $12,070,000 after acquiring an additional 76,758 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Genomic Health by 8.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 482,675 shares of the medical research company’s stock worth $15,200,000 after acquiring an additional 38,199 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Shares of Genomic Health, Inc. (NASDAQ GHDX) opened at 32.70 on Tuesday. Genomic Health, Inc. has a 52-week low of $26.37 and a 52-week high of $34.02. The stock’s market cap is $1.13 billion. The firm’s 50-day moving average is $32.19 and its 200 day moving average is $31.82.

Genomic Health (NASDAQ:GHDX) last announced its earnings results on Tuesday, August 1st. The medical research company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $85.50 million during the quarter, compared to analyst estimates of $86.08 million. Genomic Health had a negative net margin of 1.50% and a negative return on equity of 4.33%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) earnings per share. Analysts forecast that Genomic Health, Inc. will post ($0.04) earnings per share for the current fiscal year.

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Several research firms recently commented on GHDX. Canaccord Genuity reduced their price objective on shares of Genomic Health from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Genomic Health from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Piper Jaffray Companies reiterated a “hold” rating and set a $31.00 price objective on shares of Genomic Health in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of Genomic Health from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $34.00 price objective on shares of Genomic Health in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.00.

In other news, insider James J. Vaughn sold 8,000 shares of Genomic Health stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $30.59, for a total value of $244,720.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly J. Popovits sold 5,000 shares of Genomic Health stock in a transaction on Monday, August 14th. The shares were sold at an average price of $30.22, for a total transaction of $151,100.00. The disclosure for this sale can be found here. Insiders sold a total of 33,000 shares of company stock worth $1,022,620 over the last ninety days. 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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