Genomic Health, Inc. (NASDAQ:GHDX) saw a significant increase in short interest in September. As of September 28th, there was short interest totalling 958,498 shares, an increase of 90.4% from the September 14th total of 503,528 shares. Based on an average daily volume of 361,338 shares, the days-to-cover ratio is presently 2.7 days. Approximately 2.7% of the shares of the stock are short sold.
In other news, COO Frederic Pla sold 1,500 shares of the business’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $65.43, for a total value of $98,145.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO G Bradley Cole sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $63.19, for a total value of $315,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,529 shares of company stock worth $8,159,120. 45.80% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in Genomic Health by 114.0% in the second quarter. Millennium Management LLC now owns 1,446,250 shares of the medical research company’s stock valued at $72,891,000 after purchasing an additional 770,413 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Genomic Health by 40.7% in the second quarter. State of Wisconsin Investment Board now owns 21,100 shares of the medical research company’s stock valued at $1,063,000 after purchasing an additional 6,100 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Genomic Health in the second quarter valued at $213,000. Sei Investments Co. increased its stake in Genomic Health by 3,653.2% in the second quarter. Sei Investments Co. now owns 25,447 shares of the medical research company’s stock valued at $1,282,000 after purchasing an additional 24,769 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Genomic Health by 11.1% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 56,551 shares of the medical research company’s stock valued at $2,850,000 after purchasing an additional 5,630 shares during the last quarter. Hedge funds and other institutional investors own 89.33% of the company’s stock.
A number of equities analysts have recently weighed in on the company. BidaskClub cut Genomic Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Cowen reissued a “hold” rating and issued a $50.00 price target on shares of Genomic Health in a report on Monday, August 6th. Piper Jaffray Companies reissued a “hold” rating and issued a $60.00 price target on shares of Genomic Health in a report on Friday, August 3rd. Canaccord Genuity boosted their price target on Genomic Health from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, TheStreet raised Genomic Health from a “c” rating to a “b-” rating in a report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $46.11.
NASDAQ GHDX opened at $65.33 on Friday. Genomic Health has a fifty-two week low of $26.54 and a fifty-two week high of $72.83. The firm has a market capitalization of $2.52 billion, a PE ratio of 6,461.00 and a beta of 0.45.
Genomic Health (NASDAQ:GHDX) last released its earnings results on Thursday, August 2nd. The medical research company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.19. The firm had revenue of $95.60 million during the quarter, compared to analyst estimates of $92.23 million. Genomic Health had a return on equity of 9.09% and a net margin of 1.18%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. Equities research analysts anticipate that Genomic Health will post 0.54 EPS for the current year.
About Genomic Health
Genomic Health, Inc, a healthcare company, provides actionable genomic information to personalize cancer treatment decisions worldwide. It develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, allowing physicians and patients to make individualized treatment decisions.
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