FY2018 Earnings Forecast for Genomic Health, Inc. Issued By Jefferies Financial Group (GHDX)
Genomic Health, Inc. (NASDAQ:GHDX) – Investment analysts at Jefferies Financial Group lifted their FY2018 earnings estimates for shares of Genomic Health in a report issued on Wednesday, November 7th. Jefferies Financial Group analyst B. Couillard now expects that the medical research company will post earnings per share of $1.04 for the year, up from their prior forecast of $0.46. Jefferies Financial Group has a “Hold” rating and a $50.00 price objective on the stock. Jefferies Financial Group also issued estimates for Genomic Health’s Q4 2018 earnings at $0.30 EPS, Q1 2019 earnings at $0.37 EPS, Q2 2019 earnings at $0.38 EPS, Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.40 EPS, FY2019 earnings at $1.55 EPS and FY2020 earnings at $1.70 EPS.
Genomic Health (NASDAQ:GHDX) last issued its quarterly earnings results on Tuesday, November 6th. The medical research company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.28. Genomic Health had a return on equity of 14.05% and a net margin of 4.95%. The company had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $94.27 million. During the same quarter last year, the business earned ($0.06) earnings per share. Genomic Health’s revenue was up 23.2% on a year-over-year basis.
Shares of NASDAQ GHDX opened at $77.90 on Monday. Genomic Health has a 52 week low of $26.54 and a 52 week high of $92.18. The firm has a market capitalization of $2.93 billion, a P/E ratio of 7,790.00 and a beta of 0.44.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Genomic Health by 1.7% in the third quarter. BlackRock Inc. now owns 2,037,436 shares of the medical research company’s stock valued at $143,070,000 after acquiring an additional 34,464 shares during the last quarter. Renaissance Technologies LLC grew its position in Genomic Health by 26.9% in the third quarter. Renaissance Technologies LLC now owns 1,783,100 shares of the medical research company’s stock valued at $125,209,000 after acquiring an additional 378,176 shares during the last quarter. Millennium Management LLC grew its position 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 acquiring an additional 770,413 shares during the last quarter. Acadian Asset Management LLC grew its position in Genomic Health by 112.8% in the third quarter. Acadian Asset Management LLC now owns 525,376 shares of the medical research company’s stock valued at $36,891,000 after acquiring an additional 278,516 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Genomic Health by 21.9% in the third quarter. Prudential Financial Inc. now owns 364,431 shares of the medical research company’s stock valued at $25,590,000 after acquiring an additional 65,556 shares during the last quarter. Hedge funds and other institutional investors own 90.84% of the company’s stock.
In other Genomic Health news, insider James J. Vaughn sold 3,000 shares of Genomic Health stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $85.18, for a total value of $255,540.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bros. Advisors Lp Baker sold 204,300 shares of Genomic Health stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $79.33, for a total value of $16,207,119.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 545,394 shares of company stock worth $42,271,195. Company insiders own 45.80% of the company’s stock.
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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