Northern Trust Corp Buys 5,538 Shares of GeneDx Holdings Corp. $WGS

Key Points

• Northern Trust Corp increased its stake in GeneDx Holdings Corp by 3.1%, owning 185,189 shares valued at approximately $16.4 million as of the latest reporting period.
• Multiple large investors, including US Bancorp and Lazard Asset Management, have recently increased their holdings in GeneDx, indicating strong institutional support with 61.72% of the stock owned by institutional investors.
• Wall Street analysts have a consensus rating of "Moderate Buy" for GeneDx, with a targeted price of $101.63, reflecting optimistic expectations for the company's performance.

Northern Trust Corp grew its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,189 shares of the company's stock after acquiring an additional 5,538 shares during the period. Northern Trust Corp owned about 0.66% of GeneDx worth $16,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WGS. Summit Partners Public Asset Management LLC raised its stake in shares of GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock worth $58,073,000 after buying an additional 582,619 shares during the period. American Century Companies Inc. bought a new position in shares of GeneDx in the first quarter worth about $23,877,000. Westfield Capital Management Co. LP bought a new position in shares of GeneDx in the first quarter worth about $19,704,000. Nuveen LLC bought a new position in shares of GeneDx in the first quarter worth about $17,528,000. Finally, Farallon Capital Management LLC bought a new position in shares of GeneDx in the fourth quarter worth about $14,988,000. Institutional investors own 61.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. 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. Wells Fargo & Company increased their target price on GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Guggenheim reiterated a "buy" rating and set a $115.00 target price (up previously from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $101.63.

GeneDx Price Performance

Shares of NASDAQ:WGS traded up $2.28 during trading on Friday, hitting $132.54. 453,030 shares of the company's stock were exchanged, compared to its average volume of 658,089. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 2,650.80 and a beta of 2.03. The business's 50-day simple moving average is $104.18 and its 200 day simple moving average is $90.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70. GeneDx Holdings Corp. has a 52-week low of $31.22 and a 52-week high of $134.43.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.40. The business had revenue of $102.69 million during the quarter, compared to analysts' expectations of $86.00 million. GeneDx had a return on equity of 16.51% and a net margin of 0.39%. GeneDx has set its FY 2025 guidance at EPS. As a group, equities analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 5,278 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total transaction of $490,854.00. Following the completion of the transaction, the chief financial officer owned 3,392 shares in the company, valued at $315,456. This trade represents a 60.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 9,657 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total value of $878,207.58. Following the transaction, the chief executive officer owned 4,940 shares of the company's stock, valued at $449,243.60. This represents a 66.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 561,641 shares of company stock worth $67,551,904. 29.60% of the stock is owned by corporate insiders.

GeneDx 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.