Genomic Health, Inc. (GHDX) Expected to Post Quarterly Sales of $86.39 Million
Wall Street brokerages expect Genomic Health, Inc. (NASDAQ:GHDX) to post sales of $86.39 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Genomic Health’s earnings, with the lowest sales estimate coming in at $86 million and the highest estimate coming in at $87.89 million. Genomic Health reported sales of $81.97 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.4%. The business is scheduled to announce its next quarterly earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that Genomic Health will report full year sales of $86.39 million for the current year, with estimates ranging from $352.49 million to $359.33 million. For the next financial year, analysts anticipate that the company will report sales of $393.73 million per share, with estimates ranging from $390.2 million to $400 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Genomic Health.
Genomic Health (NASDAQ:GHDX) last released its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $84 million during the quarter, compared to the consensus estimate of $86.21 million. Genomic Health had a negative return on equity of 14.13% and a negative net margin of 5.77%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) earnings per share.
GHDX has been the subject of a number of recent research reports. Zacks Investment Research lowered Genomic Health from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 18th. TheStreet upgraded Genomic Health from a “d+” rating to a “c-” rating in a report on Monday, February 27th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Genomic Health in a report on Wednesday, May 3rd. They noted that the move was a valuation call. Finally, Jefferies Group LLC lifted their target price on Genomic Health from $29.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $32.00.
In other news, insider Steven Shak sold 5,000 shares of Genomic Health stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $31.26, for a total transaction of $156,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Laura Leber sold 3,072 shares of Genomic Health stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $31.88, for a total value of $97,935.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,072 shares of company stock worth $2,019,170. 47.00% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of GHDX. Pacad Investment Ltd. purchased a new stake in Genomic Health during the fourth quarter worth approximately $118,000. Dubuque Bank & Trust Co. purchased a new stake in Genomic Health during the first quarter worth approximately $142,000. Legal & General Group Plc boosted its stake in Genomic Health by 48.7% in the first quarter. Legal & General Group Plc now owns 6,222 shares of the medical research company’s stock worth $196,000 after buying an additional 2,038 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Genomic Health during the first quarter worth approximately $218,000. Finally, Wetherby Asset Management Inc. boosted its stake in Genomic Health by 4.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 8,255 shares of the medical research company’s stock worth $243,000 after buying an additional 345 shares during the period. Institutional investors and hedge funds own 89.50% of the company’s stock.
Genomic Health (NASDAQ:GHDX) opened at 30.61 on Friday. Genomic Health has a 52-week low of $24.08 and a 52-week high of $33.96. The stock has a 50 day moving average price of $31.27 and a 200 day moving average price of $30.45. The company’s market capitalization is $1.05 billion.
About Genomic Health
Genomic Health, Inc is a healthcare company that provides genomic-based diagnostic tests to personalize cancer treatment. The Company develops and commercializes genomic-based clinical laboratory services. The Company’s Oncotype IQ Genomic Intelligence Platform is consisted of its flagship line of Oncotype DX gene expression tests, as well as its Oncotype SEQ Liquid Select test.
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