Jefferies Group LLC Reiterates Hold Rating for Genomic Health, Inc. (GHDX)
Jefferies Group LLC reissued their hold rating on shares of Genomic Health, Inc. (NASDAQ:GHDX) in a report released on Thursday morning. They currently have a $33.00 price objective on the medical research company’s stock.
GHDX has been the subject of a number of other research reports. Cowen and Company restated a hold rating and issued a $34.00 target price on shares of Genomic Health in a report on Friday, September 1st. Zacks Investment Research lowered Genomic Health from a hold rating to a sell rating in a report on Tuesday, August 1st. BidaskClub upgraded Genomic Health from a sell rating to a hold rating in a report on Saturday, August 26th. Piper Jaffray Companies restated a hold rating and issued a $31.00 target price on shares of Genomic Health in a report on Thursday, August 3rd. Finally, Canaccord Genuity dropped their price target on shares of Genomic Health from $36.00 to $35.00 and set a buy rating on the stock in a research note on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average target price of $32.00.
Shares of Genomic Health (NASDAQ GHDX) opened at 31.27 on Thursday. Genomic Health has a 12 month low of $26.37 and a 12 month high of $33.97. The stock has a 50 day moving average price of $30.90 and a 200-day moving average price of $31.60. The stock’s market cap is $1.08 billion.
Genomic Health (NASDAQ:GHDX) last released its earnings results on Tuesday, August 1st. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). The business had revenue of $85.50 million during the quarter, compared to analysts’ expectations of $86.08 million. Genomic Health had a negative net margin of 1.50% and a negative return on equity of 4.33%. Genomic Health’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.18) EPS. On average, analysts forecast that Genomic Health will post ($0.01) EPS for the current fiscal year.
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In other Genomic Health news, insider Phillip G. Febbo sold 3,174 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $33.57, for a total transaction of $106,551.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kimberly J. Popovits sold 5,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $30.22, for a total transaction of $151,100.00. The disclosure for this sale can be found here. Insiders have sold 42,642 shares of company stock worth $1,354,431 over the last three months. Company insiders own 46.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GHDX. Columbia Wanger Asset Management LLC boosted its holdings in Genomic Health by 26.1% during the first quarter. Columbia Wanger Asset Management LLC now owns 1,607,649 shares of the medical research company’s stock valued at $50,625,000 after acquiring an additional 332,311 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Genomic Health by 27.1% in the first quarter. Renaissance Technologies LLC now owns 733,200 shares of the medical research company’s stock valued at $23,088,000 after buying an additional 156,500 shares during the period. Vanguard Group Inc. lifted its stake in shares of Genomic Health by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,564,170 shares of the medical research company’s stock valued at $49,256,000 after buying an additional 126,807 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Genomic Health by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 294,048 shares of the medical research company’s stock valued at $9,259,000 after buying an additional 81,425 shares during the period. Finally, Cowen Prime Services LLC lifted its stake in shares of Genomic Health by 324.1% in the second quarter. Cowen Prime Services LLC now owns 88,635 shares of the medical research company’s stock valued at $2,885,000 after buying an additional 67,735 shares during the period. Institutional investors own 88.90% of the company’s stock.
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.
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