Genomic Health Inc. (GHDX) Receives $29.80 Consensus Price Target from Analysts
Genomic Health Inc. (NASDAQ:GHDX) has earned a consensus rating of “Hold” from the eight research firms that are presently covering the stock. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $29.80.
A number of research analysts have recently commented on GHDX shares. Canaccord Genuity set a $38.00 target price on Genomic Health and gave the company a “buy” rating in a research note on Wednesday, November 2nd. Zacks Investment Research upgraded Genomic Health from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, October 4th. Jefferies Group raised their price objective on Genomic Health from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, August 17th. Finally, Bank of America Corp. set a $28.00 price objective on Genomic Health and gave the company a “sell” rating in a research report on Wednesday, August 3rd.
Genomic Health (NASDAQ:GHDX) opened at 32.36 on Wednesday. Genomic Health has a 12 month low of $22.00 and a 12 month high of $35.79. The stock’s 50 day moving average price is $30.30 and its 200-day moving average price is $28.03. The stock’s market cap is $1.08 billion.
Genomic Health (NASDAQ:GHDX) last released its earnings results on Tuesday, November 1st. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.01. The company earned $82.30 million during the quarter, compared to analysts’ expectations of $83.24 million. Genomic Health had a negative return on equity of 14.13% and a negative net margin of 5.77%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.36) EPS. Analysts anticipate that Genomic Health will post ($0.46) EPS for the current fiscal year.
In other Genomic Health news, COO G Bradley Cole sold 8,290 shares of Genomic Health stock in a transaction on Monday, October 10th. The stock was sold at an average price of $30.59, for a total value of $253,591.10. Following the completion of the sale, the chief operating officer now owns 39,426 shares of the company’s stock, valued at approximately $1,206,041.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kimberly J. Popovits sold 5,313 shares of Genomic Health stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $28.88, for a total value of $153,439.44. Following the completion of the sale, the insider now directly owns 64,933 shares of the company’s stock, valued at approximately $1,875,265.04. The disclosure for this sale can be found here. 47.00% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. increased its position in Genomic Health by 5.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 139,361 shares of the company’s stock worth $4,029,000 after buying an additional 7,400 shares during the period. Credit Suisse AG increased its position in Genomic Health by 61.7% in the third quarter. Credit Suisse AG now owns 48,852 shares of the company’s stock worth $1,413,000 after buying an additional 18,639 shares during the period. Candriam Luxembourg S.C.A. increased its position in Genomic Health by 25.4% in the third quarter. Candriam Luxembourg S.C.A. now owns 79,000 shares of the company’s stock worth $2,285,000 after buying an additional 16,000 shares during the period. Tributary Capital Management LLC increased its position in Genomic Health by 7.3% in the third quarter. Tributary Capital Management LLC now owns 221,354 shares of the company’s stock worth $6,402,000 after buying an additional 15,063 shares during the period. Finally, Baker BROS. Advisors LP purchased a new position in Genomic Health during the third quarter worth about $398,237,000. 89.22% of the stock is owned by institutional investors and hedge funds.
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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