Raymond James Financial Inc. Makes New Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Raymond James Financial Inc. purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 265,045 shares of the company’s stock, valued at approximately $20,371,000. Raymond James Financial Inc. owned approximately 0.96% of GeneDx at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $51,496,000. Zweig DiMenna Associates LLC acquired a new position in shares of GeneDx in the fourth quarter worth about $23,788,000. Invesco Ltd. raised its holdings in shares of GeneDx by 4,382.2% during the fourth quarter. Invesco Ltd. now owns 255,351 shares of the company’s stock valued at $19,626,000 after acquiring an additional 249,654 shares during the period. Vanguard Group Inc. lifted its position in shares of GeneDx by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock valued at $77,337,000 after acquiring an additional 156,768 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in GeneDx in the 4th quarter worth approximately $10,821,000. 61.72% of the stock is owned by institutional investors.

GeneDx Stock Down 2.9 %

Shares of GeneDx stock opened at $95.47 on Friday. The stock has a 50-day simple moving average of $93.79 and a 200-day simple moving average of $80.04. GeneDx Holdings Corp. has a 52-week low of $9.60 and a 52-week high of $115.60. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -48.71 and a beta of 1.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The company had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. On average, equities research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on WGS shares. The Goldman Sachs Group increased their target price on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. TD Cowen raised their price objective on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.33.

Insiders Place Their Bets

In related news, CEO Katherine Stueland sold 1,657 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $308,975.76. This represents a 29.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 15,516 shares of GeneDx stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $92.18, for a total transaction of $1,430,264.88. Following the completion of the transaction, the chief financial officer now owns 1,726 shares in the company, valued at $159,102.68. This trade represents a 89.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,780 shares of company stock valued at $12,907,437 over the last quarter. Insiders own 27.30% 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.