Genomic Health Inc. (GHDX) Shares Down 4.2% on Insider Selling
Genomic Health Inc. (NASDAQ:GHDX)’s share price dropped 4.2% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $29.18 and last traded at $29.21, with a volume of 105,785 shares traded. The stock had previously closed at $30.48.
Specifically, Director Felix Baker bought 100,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was acquired at an average cost of $27.02 per share, with a total value of $2,702,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider James J. Vaughn sold 3,000 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $28.74, for a total value of $86,220.00. The disclosure for this sale can be found here. Company insiders own 47.00% of the company’s stock.
GHDX has been the subject of a number of analyst reports. Zacks Investment Research downgraded Genomic Health from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Canaccord Genuity reissued a “buy” rating and set a $38.00 target price on shares of Genomic Health in a research note on Friday, August 5th. Bank of America Corp. set a $28.00 target price on Genomic Health and gave the stock a “sell” rating in a research note on Wednesday, August 3rd. Jefferies Group increased their target price on Genomic Health from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, August 17th. Finally, Leerink Swann reissued a “buy” rating on shares of Genomic Health in a research note on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $32.50.
The company’s market capitalization is $971.70 million. The firm has a 50-day moving average of $28.15 and a 200-day moving average of $27.27.
Genomic Health (NASDAQ:GHDX) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.18). The business earned $81.97 million during the quarter, compared to the consensus estimate of $81.27 million. Genomic Health had a negative return on equity of 21.02% and a negative net margin of 8.84%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.29) earnings per share. On average, analysts forecast that Genomic Health Inc. will post ($0.47) EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of Genomic Health during the second quarter valued at about $187,000. Royal Bank of Canada increased its stake in shares of Genomic Health by 6,543.0% in the first quarter. Royal Bank of Canada now owns 8,503 shares of the company’s stock valued at $210,000 after buying an additional 8,375 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Genomic Health during the second quarter valued at about $270,000. American International Group Inc. increased its stake in shares of Genomic Health by 3.2% in the second quarter. American International Group Inc. now owns 10,753 shares of the company’s stock valued at $278,000 after buying an additional 334 shares during the period. Finally, Nationwide Fund Advisors increased its stake in shares of Genomic Health by 3.0% in the second quarter. Nationwide Fund Advisors now owns 11,932 shares of the company’s stock valued at $309,000 after buying an additional 351 shares during the period. 88.92% of the stock is currently owned by institutional investors.
Genomic Health Company Profile
Genomic Health, Inc is a healthcare company, which provides genomic-based diagnostic tests for the treatment of early stage cancer. The Company offers its Oncotype DX tests as a clinical laboratory service, where it analyzes the expression levels of genes in tumor tissue samples and provides physicians with a quantitative gene expression profile expressed as a single quantitative score, which it calls a Recurrence Score for invasive breast cancer and colon cancer, a DCIS Score for ductal carcinoma in situ (DCIS) and a Genomic Prostate Score for prostate cancer.
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