Zacks Investment Research upgraded shares of Genomic Health Inc. (NASDAQ:GHDX) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $33.00 price target on the stock.
According to Zacks, “Genomic Health continues to experience strong test volume as well as revenue growth, across its global region. However, in the last reported second quarter 2016, gross margin continued to be weak as the company has been witnessing for the past few quarters. Additionally, fluctuations in the price of the marketable security continued to hamper the stock, which is expected to remain for the rest of 2016. Nevertheless, we are optimistic about the fact that despite a huge rise in cost of sales, the gross margin decline was comparatively moderate, on the back of a higher pace of revenue growth.”
Several other brokerages have also recently commented on GHDX. Canaccord Genuity reaffirmed a buy rating and set a $38.00 target price on shares of Genomic Health in a report on Friday, August 5th. Bank of America Corp. set a $28.00 price target on shares of Genomic Health and gave the stock a sell rating in a research report on Wednesday, August 3rd. Jefferies Group increased their price target on shares of Genomic Health from $25.00 to $27.00 and gave the stock a hold rating in a research report on Wednesday, August 17th. Finally, Leerink Swann reiterated a buy rating on shares of Genomic Health in a research report on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $32.50.
Shares of Genomic Health (NASDAQ:GHDX) traded up 0.50% during mid-day trading on Tuesday, hitting $30.35. 20,797 shares of the company’s stock traded hands. Genomic Health has a 52 week low of $20.05 and a 52 week high of $35.79. The firm has a 50-day moving average of $27.84 and a 200 day moving average of $27.09. The company’s market cap is $1.01 billion.
Genomic Health (NASDAQ:GHDX) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.18) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.18). Genomic Health had a negative net margin of 8.84% and a negative return on equity of 21.02%. The company had revenue of $81.97 million for the quarter, compared to analysts’ expectations of $81.27 million. During the same period last year, the firm earned ($0.29) earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities research analysts predict that Genomic Health will post ($0.47) EPS for the current year.
In other news, insider James J. Vaughn sold 3,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $28.74, for a total transaction of $86,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Shak sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $27.42, for a total transaction of $137,100.00. Following the transaction, the insider now directly owns 332,207 shares of the company’s stock, valued at approximately $9,109,115.94. The disclosure for this sale can be found here. 47.00% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in Genomic Health by 3.2% in the second quarter. American International Group Inc. now owns 10,753 shares of the company’s stock valued at $278,000 after buying an additional 334 shares during the last quarter. Nationwide Fund Advisors increased its position in Genomic Health by 3.0% in the second quarter. Nationwide Fund Advisors now owns 11,932 shares of the company’s stock valued at $309,000 after buying an additional 351 shares during the last quarter. Kimelman & Baird LLC increased its position in Genomic Health by 2.3% in the first quarter. Kimelman & Baird LLC now owns 21,940 shares of the company’s stock valued at $543,000 after buying an additional 500 shares during the last quarter. ProShare Advisors LLC increased its position in Genomic Health by 2.2% in the second quarter. ProShare Advisors LLC now owns 26,858 shares of the company’s stock valued at $695,000 after buying an additional 591 shares during the last quarter. Finally, Swiss National Bank increased its position in Genomic Health by 2.3% in the second quarter. Swiss National Bank now owns 31,200 shares of the company’s stock valued at $808,000 after buying an additional 700 shares during the last quarter. 88.92% of the stock is owned by hedge funds and other institutional investors.
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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