Genomic Health Inc. (GHDX) Receives Consensus Rating of “Hold” from Brokerages
Genomic Health Inc. (NASDAQ:GHDX) has received a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $30.88.
A number of research firms have issued reports on GHDX. Zacks Investment Research cut Genomic Health from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Bank of America Corp. set a $28.00 target price on Genomic Health and gave the company a “sell” rating in a research report on Wednesday, August 3rd. Jefferies Group lifted their target price on Genomic Health from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, August 17th. Canaccord Genuity reiterated a “buy” rating and issued a $38.00 target price on shares of Genomic Health in a research report on Friday, August 5th. Finally, Leerink Swann reiterated a “buy” rating on shares of Genomic Health in a research report on Tuesday, June 21st.
Shares of Genomic Health (NASDAQ:GHDX) traded down 3.87% during mid-day trading on Wednesday, hitting $29.30. The stock had a trading volume of 91,692 shares. The firm’s market capitalization is $977.04 million. The stock’s 50-day moving average is $28.15 and its 200-day moving average is $27.27. Genomic Health has a 1-year low of $20.05 and a 1-year high of $35.79.
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Genomic Health (NASDAQ:GHDX) last released its earnings results on Tuesday, August 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.18). Genomic Health had a negative return on equity of 21.02% and a negative net margin of 8.84%. The firm had revenue of $81.97 million for the quarter, compared to analysts’ expectations of $81.27 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts expect that Genomic Health will post ($0.47) earnings per share for the current year.
In other Genomic Health news, insider James J. Vaughn sold 3,000 shares of Genomic Health stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $28.74, for a total value of $86,220.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Shak sold 5,000 shares of Genomic Health stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $26.83, for a total value of $134,150.00. Following the completion of the sale, the insider now owns 332,207 shares of the company’s stock, valued at $8,913,113.81. The disclosure for this sale can be found here. 47.00% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Genomic Health during the second quarter worth $187,000. Royal Bank of Canada increased its stake in shares of Genomic Health by 6,543.0% in the first quarter. Royal Bank of Canada now owns 8,503 shares of the company’s stock worth $210,000 after buying an additional 8,375 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Genomic Health during the second quarter worth $270,000. American International Group Inc. increased its stake in shares of Genomic Health by 3.2% in the second quarter. American International Group Inc. now owns 10,753 shares of the company’s stock worth $278,000 after buying an additional 334 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Genomic Health by 3.0% in the second quarter. Nationwide Fund Advisors now owns 11,932 shares of the company’s stock worth $309,000 after buying an additional 351 shares during the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.
About Genomic Health
Genomic Health, Inc is a healthcare company, which provides genomic-based diagnostic tests for the treatment of early stage cancer. The Company offers its Oncotype DX tests as a clinical laboratory service, where it analyzes the expression levels of genes in tumor tissue samples and provides physicians with a quantitative gene expression profile expressed as a single quantitative score, which it calls a Recurrence Score for invasive breast cancer and colon cancer, a DCIS Score for ductal carcinoma in situ (DCIS) and a Genomic Prostate Score for prostate cancer.
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