Genomic Health, Inc. (GHDX) Expected to Post Quarterly Sales of $89.44 Million
Equities research analysts expect Genomic Health, Inc. (NASDAQ:GHDX) to announce $89.44 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Genomic Health’s earnings, with the highest sales estimate coming in at $93.00 million and the lowest estimate coming in at $87.00 million. Genomic Health posted sales of $82.26 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.7%. The company is scheduled to report its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Genomic Health will report full year sales of $89.44 million for the current financial year, with estimates ranging from $348.00 million to $348.42 million. For the next fiscal year, analysts expect that the company will report sales of $390.30 million per share, with estimates ranging from $383.00 million to $397.70 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Genomic Health.
Genomic Health (NASDAQ:GHDX) last announced its quarterly earnings results on Tuesday, August 1st. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.02. The company had revenue of $85.50 million for the quarter, compared to analyst estimates of $86.08 million. Genomic Health had a negative return on equity of 4.44% and a negative net margin of 1.50%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) earnings per share.
GHDX has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Genomic Health from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 18th. BidaskClub downgraded shares of Genomic Health from a “hold” rating to a “sell” rating in a report on Friday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $31.00 price objective on shares of Genomic Health in a report on Thursday. Raymond James Financial, Inc. reaffirmed 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 reaffirmed a “hold” rating and set a $33.00 price objective on shares of Genomic Health in a report on Monday, June 12th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.43.
In other Genomic Health news, insider Steven Shak sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $29.40, for a total value of $147,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Fred E. Cohen sold 16,500 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $29.88, for a total transaction of $493,020.00. Following the completion of the sale, the director now directly owns 74,145 shares of the company’s stock, valued at $2,215,452.60. The disclosure for this sale can be found here. Insiders have sold a total of 62,642 shares of company stock valued at $1,944,896 over the last ninety days. 46.20% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Wetherby Asset Management Inc. increased its stake in Genomic Health by 3.7% in the second quarter. Wetherby Asset Management Inc. now owns 8,912 shares of the medical research company’s stock valued at $290,000 after buying an additional 317 shares in the last quarter. Dubuque Bank & Trust Co. increased its stake in Genomic Health by 8.4% in the second quarter. Dubuque Bank & Trust Co. now owns 4,897 shares of the medical research company’s stock valued at $159,000 after buying an additional 379 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Genomic Health by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 88,577 shares of the medical research company’s stock valued at $2,789,000 after buying an additional 500 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in Genomic Health by 3.6% in the first quarter. Independent Portfolio Consultants Inc. now owns 17,855 shares of the medical research company’s stock valued at $562,000 after buying an additional 625 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Genomic Health by 11.4% in the second quarter. Legal & General Group Plc now owns 6,932 shares of the medical research company’s stock valued at $226,000 after buying an additional 710 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.
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Genomic Health (GHDX) opened at 30.51 on Monday. The firm’s market capitalization is $1.05 billion. Genomic Health has a one year low of $25.66 and a one year high of $33.97. The stock’s 50 day moving average is $32.69 and its 200 day moving average is $31.05.
Genomic Health Company Profile
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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