Genomic Health Inc. (NASDAQ:GHDX) received a $38.00 price objective from equities researchers at Canaccord Genuity in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity’s target price points to a potential upside of 20.63% from the stock’s current price.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Genomic Health from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th. Jefferies Group upped their price objective on Genomic Health from $25.00 to $27.00 and gave the company a “hold” rating in a 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 report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $32.50.
Shares of Genomic Health (NASDAQ:GHDX) traded up 0.16% during midday trading on Wednesday, hitting $31.50. The stock had a trading volume of 108,995 shares. The company’s market capitalization is $1054.59 billion. The firm’s 50-day moving average is $30.56 and its 200 day moving average is $28.18. Genomic Health has a one year low of $22.00 and a one year high of $35.79.
Genomic Health (NASDAQ:GHDX) last released its quarterly earnings data on Tuesday, November 1st. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business earned $82.30 million during the quarter, compared to the consensus estimate 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 was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.36) earnings per share. Equities analysts expect that Genomic Health will post ($0.46) earnings per share for the current fiscal year.
In related news, insider James J. Vaughn sold 3,000 shares of the stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $29.68, for a total transaction of $89,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Shak sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $30.39, for a total value of $151,950.00. Following the transaction, the insider now directly owns 332,207 shares of the company’s stock, valued at $10,095,770.73. The disclosure for this sale can be found here. Insiders own 47.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of GHDX. Baker BROS. Advisors LP bought a new position in shares of Genomic Health during the third quarter valued at approximately $398,237,000. Loomis Sayles & Co. L P bought a new position in shares of Genomic Health during the first quarter valued at approximately $15,639,000. Eagle Asset Management Inc. bought a new position in shares of Genomic Health during the third quarter valued at approximately $8,417,000. Ghost Tree Capital LLC bought a new position in shares of Genomic Health during the second quarter valued at approximately $5,179,000. Finally, Renaissance Technologies LLC boosted its position in shares of Genomic Health by 54.0% in the first quarter. Renaissance Technologies LLC now owns 446,021 shares of the company’s stock valued at $11,048,000 after buying an additional 156,421 shares during the period. 89.28% of the stock is owned by hedge funds and other institutional investors.
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