Genomic Health Inc. (NASDAQ:GHDX) shares were down 4.2% on Wednesday following insider selling activity. The stock traded as low as $29.18 and last traded at $29.21, with a volume of 105,785 shares traded. The stock had previously closed at $30.48.
Specifically, COO G Bradley Cole sold 8,290 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $30.59, for a total value of $253,591.10. Following the transaction, the chief operating officer now directly owns 39,426 shares of the company’s stock, valued at approximately $1,206,041.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Felix Baker bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average cost of $27.02 per share, for a total transaction of $2,702,000.00. The disclosure for this purchase can be found here. 47.00% of the stock is owned by corporate insiders.
Several equities analysts recently issued reports on GHDX shares. Leerink Swann reissued a “buy” rating on shares of Genomic Health in a research report on Tuesday, June 21st. Zacks Investment Research downgraded Genomic Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Bank of America Corp. set a $28.00 target price on Genomic Health and gave the company a “sell” rating in a research report on Wednesday, August 3rd. Canaccord Genuity reissued a “buy” rating and issued a $38.00 target price on shares of Genomic Health in a research report on Friday, August 5th. Finally, Jefferies Group upped their target price on Genomic Health from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.50.
The firm’s 50 day moving average price is $28.28 and its 200 day moving average price is $27.30. The company’s market capitalization is $968.03 million.
Genomic Health (NASDAQ:GHDX) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the 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 earned $81.97 million during the quarter, compared to analyst estimates of $81.27 million. During the same quarter in the prior year, the business earned ($0.29) earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts predict that Genomic Health Inc. will post ($0.47) EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Genomic Health by 3.2% in the second quarter. Vanguard Group Inc. now owns 1,368,807 shares of the company’s stock valued at $35,445,000 after buying an additional 42,512 shares during the last quarter. BlackRock Fund Advisors raised its stake in Genomic Health by 2.1% in the second quarter. BlackRock Fund Advisors now owns 866,021 shares of the company’s stock valued at $22,426,000 after buying an additional 17,588 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in Genomic Health during the first quarter valued at about $15,639,000. BlackRock Institutional Trust Company N.A. raised its stake in Genomic Health by 10.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 583,742 shares of the company’s stock valued at $15,116,000 after buying an additional 55,629 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in 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 last quarter. 88.92% of the stock is owned by institutional investors.
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.
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