GeneDx Holdings Corp. (NASDAQ:WGS) Stock Position Lifted by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in GeneDx Holdings Corp. by 21.0% during the first quarter, now owning about $3.82 million worth of shares, bringing institutional ownership to 61.72%.
• GeneDx reported $0.50 earnings per share for the latest quarter, exceeding expectations of $0.10, along with revenues of $102.69 million, surpassing forecasts of $86 million.
• After a significant increase of 2,700% in stock value during 2024, GeneDx has garnered a consensus rating of "Moderate Buy" from analysts, with an average price target of $101.63.

LPL Financial LLC grew its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 21.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,105 shares of the company's stock after buying an additional 7,484 shares during the period. LPL Financial LLC owned about 0.15% of GeneDx worth $3,818,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its holdings in shares of GeneDx by 74.2% in the 4th quarter. Alliancebernstein L.P. now owns 13,850 shares of the company's stock worth $1,065,000 after purchasing an additional 5,900 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of GeneDx by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 382,350 shares of the company's stock worth $29,396,000 after purchasing an additional 4,719 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of GeneDx by 42.0% in the 4th quarter. Wells Fargo & Company MN now owns 8,382 shares of the company's stock worth $644,000 after purchasing an additional 2,480 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of GeneDx in the 4th quarter worth approximately $380,000. Finally, Invesco Ltd. lifted its holdings in shares of GeneDx by 4,382.2% in the 4th quarter. Invesco Ltd. now owns 255,351 shares of the company's stock worth $19,626,000 after purchasing an additional 249,654 shares during the last quarter. Institutional investors own 61.72% of the company's stock.

GeneDx Stock Performance

Shares of NASDAQ WGS opened at $126.36 on Friday. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 2,527.20 and a beta of 2.02. The stock's fifty day simple moving average is $88.39 and its 200 day simple moving average is $85.66. GeneDx Holdings Corp. has a 52-week low of $28.86 and a 52-week high of $127.36.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%. The business had revenue of $102.69 million for the quarter, compared to analysts' expectations of $86.00 million. As a group, sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 5,278 shares of the company's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total value of $490,854.00. Following the transaction, the chief financial officer directly owned 3,392 shares of the company's stock, valued at $315,456. This represents a 60.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 9,657 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total value of $878,207.58. Following the completion of the transaction, the chief executive officer directly owned 4,940 shares in the company, valued at approximately $449,243.60. The trade was a 66.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,411 shares of company stock worth $2,085,051 in the last quarter. 29.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WGS. TD Securities cut their target price on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company lifted their target price on GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Piper Sandler set a $120.00 target price on GeneDx and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $101.63.

GeneDx Company Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.

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