Genomic Health Inc. (NASDAQ:GHDX)‘s stock had its “buy” rating reissued by Canaccord Genuity in a research report issued on Tuesday. They currently have a $38.00 target price on the stock. Canaccord Genuity’s target price would indicate a potential upside of 35.76% from the stock’s previous close.
Several other research firms have also issued reports on GHDX. Zacks Investment Research lowered shares of Genomic Health from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th. Cowen and Company downgraded shares of Genomic Health from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $35.00 to $34.00 in a research report on Wednesday, January 4th. Finally, Barclays PLC reaffirmed a “sell” rating and set a $27.00 price objective on shares of Genomic Health in a research report on Monday, January 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.89.
Shares of Genomic Health (NASDAQ:GHDX) opened at 27.99 on Tuesday. The firm’s 50-day moving average is $30.01 and its 200 day moving average is $29.18. The company’s market capitalization is $937.08 million. Genomic Health has a 52-week low of $22.00 and a 52-week high of $33.96.
Genomic Health (NASDAQ:GHDX) last released its quarterly earnings results on Tuesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Genomic Health had a negative net margin of 5.77% and a negative return on equity of 14.13%. The firm earned $82.30 million during the quarter, compared to analyst estimates of $83.24 million. During the same quarter last year, the business earned ($0.36) EPS. The company’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that Genomic Health will post ($0.46) earnings per share for the current year.
In related news, insider Kimberly J. Popovits sold 5,313 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $28.88, for a total transaction of $153,439.44. Following the completion of the transaction, the insider now owns 64,933 shares in the company, valued at $1,875,265.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kimberly J. Popovits sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $30.02, for a total value of $150,100.00. Following the transaction, the insider now owns 64,620 shares of the company’s stock, valued at approximately $1,939,892.40. The disclosure for this sale can be found here. 47.00% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Stonebridge Capital Management Inc. acquired a new position in shares of Genomic Health during the third quarter worth approximately $223,000. AQR Capital Management LLC acquired a new position in shares of Genomic Health during the second quarter worth approximately $270,000. American International Group Inc. increased its position 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 worth $278,000 after buying an additional 334 shares in the last quarter. Nationwide Fund Advisors increased its position 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 worth $309,000 after buying an additional 351 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Genomic Health during the third quarter worth approximately $386,000. Institutional investors own 89.57% of the company’s stock.
About Genomic Health
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.