Insider Selling: Genomic Health, Inc. (NASDAQ:GHDX) Insider Sells 3,174 Shares of Stock
Genomic Health, Inc. (NASDAQ:GHDX) insider Phillip G. Febbo sold 3,174 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $33.57, for a total transaction of $106,551.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Genomic Health, Inc. (NASDAQ GHDX) traded down 0.84% during mid-day trading on Friday, reaching $32.94. 77,900 shares of the company’s stock traded hands. The stock’s market capitalization is $1.13 billion. Genomic Health, Inc. has a 12-month low of $25.66 and a 12-month high of $33.97. The company’s 50-day moving average price is $32.61 and its 200-day moving average price is $30.85.
Genomic Health (NASDAQ:GHDX) last posted its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.01. Genomic Health had a negative net margin of 2.53% and a negative return on equity of 6.80%. The firm had revenue of $84 million during the quarter, compared to analysts’ expectations of $86.21 million. During the same period last year, the company earned ($0.19) EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts anticipate that Genomic Health, Inc. will post $0.02 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of GHDX. Columbia Wanger Asset Management LLC boosted its stake in Genomic Health by 26.1% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,607,649 shares of the medical research company’s stock valued at $50,625,000 after buying an additional 332,311 shares during the period. Renaissance Technologies LLC boosted its stake in Genomic Health by 27.1% in the first quarter. Renaissance Technologies LLC now owns 733,200 shares of the medical research company’s stock valued at $23,088,000 after buying an additional 156,500 shares during the period. Norges Bank purchased a new stake in Genomic Health during the fourth quarter valued at $4,546,000. Vanguard Group Inc. boosted its stake in Genomic Health by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,564,170 shares of the medical research company’s stock valued at $49,256,000 after buying an additional 126,807 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Genomic Health by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 294,048 shares of the medical research company’s stock valued at $9,259,000 after buying an additional 81,425 shares during the period. 89.45% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on GHDX shares. Jefferies Group LLC reissued a “hold” rating and issued a $33.00 price objective on shares of Genomic Health in a research note on Monday, June 12th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Genomic Health in a research note on Wednesday, May 3rd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Genomic Health from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.00.
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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