Analysts Set Genomic Health, Inc. (NASDAQ:GHDX) Target Price at $63.50

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Shares of Genomic Health, Inc. (NASDAQ:GHDX) have been given an average rating of “Hold” by the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $63.50.

Several research firms recently weighed in on GHDX. BidaskClub downgraded Genomic Health from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th. Zacks Investment Research downgraded Genomic Health from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Canaccord Genuity reiterated a “buy” rating and set a $85.00 target price (down from $95.00) on shares of Genomic Health in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “strong-buy” rating and set a $69.00 target price (down from $97.00) on shares of Genomic Health in a research report on Thursday, May 9th. Finally, ValuEngine downgraded Genomic Health from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th.

NASDAQ GHDX traded down $1.99 during trading hours on Tuesday, hitting $58.39. 445,095 shares of the company’s stock were exchanged, compared to its average volume of 516,307. The stock has a 50 day simple moving average of $54.48. Genomic Health has a 12-month low of $48.96 and a 12-month high of $92.18. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 55.61 and a beta of 1.07. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 0.19.

Genomic Health (NASDAQ:GHDX) last released its earnings results on Tuesday, May 7th. The medical research company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.05. Genomic Health had a return on equity of 18.70% and a net margin of 10.35%. The firm had revenue of $108.80 million for the quarter, compared to the consensus estimate of $106.75 million. During the same period in the prior year, the business posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, research analysts anticipate that Genomic Health will post 1.46 EPS for the current fiscal year.

In other news, insider Steven Shak sold 35,550 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $51.86, for a total value of $1,843,623.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kimberly J. Popovits sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $66.93, for a total value of $669,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 362,824 shares of company stock worth $22,702,761. Company insiders own 31.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Genomic Health by 166.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 790 shares of the medical research company’s stock worth $55,000 after purchasing an additional 493 shares during the period. Manchester Capital Management LLC purchased a new position in Genomic Health in the 1st quarter worth approximately $56,000. Pearl River Capital LLC purchased a new position in Genomic Health in the 1st quarter worth approximately $70,000. Royce & Associates LP boosted its holdings in Genomic Health by 22.8% in the 4th quarter. Royce & Associates LP now owns 1,473 shares of the medical research company’s stock worth $95,000 after acquiring an additional 273 shares during the period. Finally, Advisor Group Inc. boosted its holdings in Genomic Health by 34.9% in the 4th quarter. Advisor Group Inc. now owns 1,995 shares of the medical research company’s stock worth $129,000 after acquiring an additional 516 shares during the period. Institutional investors own 95.54% of the company’s stock.

Genomic Health Company Profile

Genomic Health, Inc, a healthcare company, provides clinically actionable genomic information to personalize cancer treatment decisions in the United States and internationally. The company develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, which allows physicians and patients to make individualized treatment decisions.

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Analyst Recommendations for Genomic Health (NASDAQ:GHDX)

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