J P Morgan Chase & Co Lowers Genomic Health (GHDX) to Underweight

Genomic Health (NASDAQ:GHDX) was downgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a note issued to investors on Wednesday, The Fly reports.

A number of other equities research analysts have also weighed in on GHDX. Canaccord Genuity lowered their target price on Genomic Health from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, August 15th. BidaskClub raised Genomic Health from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Cowen reissued a “hold” rating and issued a $34.00 target price on shares of Genomic Health in a research note on Friday, September 1st. Jefferies Group reissued a “hold” rating and issued a $33.00 target price on shares of Genomic Health in a research note on Thursday, September 14th. Finally, Zacks Investment Research lowered Genomic Health from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $32.67.

Shares of Genomic Health (NASDAQ:GHDX) opened at $30.05 on Wednesday. Genomic Health has a 52 week low of $26.37 and a 52 week high of $34.02.

In related news, COO G Bradley Cole sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $31.47, for a total transaction of $157,350.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James J. Vaughn sold 1,379 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $32.51, for a total value of $44,831.29. The disclosure for this sale can be found here. In the last three months, insiders sold 16,379 shares of company stock valued at $516,831. 46.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in GHDX. Pacad Investment Ltd. purchased a new position in Genomic Health during the 4th quarter valued at about $118,000. Cubist Systematic Strategies LLC purchased a new position in Genomic Health during the 3rd quarter valued at about $138,000. Dubuque Bank & Trust Co. purchased a new position in Genomic Health during the 1st quarter valued at about $142,000. Bank of Montreal Can purchased a new position in Genomic Health during the 2nd quarter valued at about $187,000. Finally, Legal & General Group Plc increased its holdings in Genomic Health by 48.7% during the 1st quarter. Legal & General Group Plc now owns 6,222 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 2,038 shares during the period. Institutional investors own 89.76% of the company’s stock.

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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.