Raymond James Financial Inc. Has $29.53 Million Position in GeneDx Holdings Corp. $WGS

Key Points

• Raymond James Financial Inc. increased its stake in GeneDx Holdings Corp. by 25.8%, acquiring an additional 68,331 shares, bringing its total holdings to 333,376 shares valued at approximately $29.5 million.
• A significant portion of the company's stock, 61.72%, is owned by institutional investors, with several firms like GAMMA Investing and US Bancorp significantly increasing their positions during the first quarter.
• Recently, GeneDx's CFO and a director sold a combined total of over 522,000 shares valued at approximately $62.5 million, indicating notable insider activity.

Raymond James Financial Inc. increased its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 25.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 333,376 shares of the company's stock after buying an additional 68,331 shares during the quarter. Raymond James Financial Inc. owned 1.19% of GeneDx worth $29,525,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after buying an additional 264 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of GeneDx during the fourth quarter worth about $35,000. US Bancorp DE grew its holdings in shares of GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after buying an additional 548 shares in the last quarter. Comerica Bank bought a new position in shares of GeneDx during the fourth quarter worth about $50,000. Finally, KBC Group NV bought a new position in shares of GeneDx during the first quarter worth about $81,000. 61.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Piper Sandler set a $120.00 price target on GeneDx and gave the company an "overweight" rating in a research note on Monday, August 4th. TD Securities decreased their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company raised their price target on GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, May 9th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $101.63.

GeneDx Stock Performance

Shares of WGS traded up $2.94 during mid-day trading on Wednesday, reaching $129.19. The company's stock had a trading volume of 469,874 shares, compared to its average volume of 902,400. GeneDx Holdings Corp. has a 1-year low of $28.86 and a 1-year high of $130.34. The stock has a market cap of $3.71 billion, a P/E ratio of 2,583.80 and a beta of 2.02. The business has a 50-day simple moving average of $97.49 and a two-hundred day simple moving average of $88.65. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $102.69 million during the quarter, compared to analysts' expectations of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kevin Feeley sold 388 shares of GeneDx stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total transaction of $40,860.28. Following the completion of the sale, the chief financial officer directly owned 3,757 shares of the company's stock, valued at approximately $395,649.67. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jason Ryan sold 38,072 shares of GeneDx stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total value of $4,846,565.60. Following the sale, the director directly owned 103,284 shares of the company's stock, valued at approximately $13,148,053.20. The trade was a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 561,633 shares of company stock valued at $67,530,714. Corporate insiders own 29.60% of the company's stock.

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.