Genomic Health Inc. (GHDX) Shares Down 4.2% on Insider Selling
Shares of Genomic Health Inc. (NASDAQ:GHDX) fell 4.2% on Wednesday after an insider sold shares in the company. The stock traded as low as $29.18 and last traded at $29.21, with a volume of 105,785 shares trading hands. The stock had previously closed at $30.48.
Specifically, insider Steven Shak sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $27.42, for a total value of $137,100.00. Following the transaction, the insider now directly owns 332,207 shares of the company’s stock, valued at $9,109,115.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James J. Vaughn sold 3,000 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $28.74, for a total transaction of $86,220.00. The disclosure for this sale can be found here. Company insiders own 47.00% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Genomic Health from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Canaccord Genuity reiterated a “buy” rating and issued a $38.00 price objective on shares of Genomic Health in a report on Friday, August 5th. Bank of America Corp. set a $28.00 price objective on shares of Genomic Health and gave the stock a “sell” rating in a report on Wednesday, August 3rd. Jefferies Group upped their price objective on shares of Genomic Health from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, August 17th. Finally, Leerink Swann reiterated a “buy” rating on shares of Genomic Health in a report on Tuesday, June 21st. Two equities 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 company presently has a consensus rating of “Hold” and an average target price of $32.50.
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The firm’s 50 day moving average is $28.15 and its 200-day moving average is $27.27. The company’s market capitalization is $971.70 million.
Genomic Health (NASDAQ:GHDX) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). Genomic Health had a negative net margin of 8.84% and a negative return on equity of 21.02%. The business had revenue of $81.97 million for the quarter, compared to analyst estimates of $81.27 million. During the same period last year, the business posted ($0.29) earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities analysts forecast that Genomic Health Inc. will post ($0.47) EPS for the current year.
Large investors have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Genomic Health during the second quarter worth approximately $187,000. Royal Bank of Canada raised 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 valued at $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 valued at about $270,000. American International Group Inc. raised 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 valued at $278,000 after buying an additional 334 shares during the last quarter. Finally, Nationwide Fund Advisors raised 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 valued at $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.
Genomic Health Company Profile
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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