Genomic Health Inc. (GHDX) Sees Strong Trading Volume
Shares of Genomic Health Inc. (NASDAQ:GHDX) saw unusually-high trading volume on Wednesday . Approximately 278,584 shares were traded during mid-day trading, an increase of 87% from the previous session’s volume of 149,158 shares.The stock last traded at $28.89 and had previously closed at $29.05.
GHDX has been the subject of a number of recent research reports. Leerink Swann restated a “buy” rating on shares of Genomic Health in a research report on Tuesday, June 21st. Canaccord Genuity upgraded Genomic Health from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Wednesday, June 1st. Zacks Investment Research upgraded Genomic Health from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Finally, Bank of America Corp. set a $28.00 target price on Genomic Health and gave the stock a “sell” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Genomic Health has a consensus rating of “Hold” and a consensus price target of $32.89.
The company’s market cap is $954.46 million. The company has a 50-day moving average price of $27.28 and a 200 day moving average price of $26.80.
Genomic Health (NASDAQ:GHDX) last released its earnings results on Tuesday, August 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). During the same quarter in the prior year, the business posted ($0.29) EPS. The business had revenue of $81.97 million for the quarter, compared to analysts’ expectations of $81.27 million. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities analysts predict that Genomic Health Inc. will post ($0.45) earnings per share for the current fiscal year.
In related news, insider Steven Shak sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $27.42, for a total transaction of $137,100.00. Following the completion of the transaction, the insider now directly owns 332,207 shares of the company’s stock, valued at $9,109,115.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James J. Vaughn sold 1,997 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $28.00, for a total value of $55,916.00. Following the transaction, the insider now directly owns 34,076 shares of the company’s stock, valued at $954,128. The disclosure for this sale can be found here.
Other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of Genomic Health by 8.6% in the fourth quarter. ProShare Advisors LLC now owns 28,759 shares of the company’s stock worth $1,012,000 after buying an additional 2,287 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Genomic Health by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 32,989 shares of the company’s stock worth $1,161,000 after buying an additional 600 shares during the last quarter. Royce & Associates LLC raised its position in shares of Genomic Health by 90.0% in the fourth quarter. Royce & Associates LLC now owns 66,500 shares of the company’s stock worth $2,341,000 after buying an additional 31,500 shares during the last quarter. Russell Frank Co raised its position in shares of Genomic Health by 327.4% in the fourth quarter. Russell Frank Co now owns 99,754 shares of the company’s stock worth $3,517,000 after buying an additional 76,416 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Genomic Health during the fourth quarter worth approximately $6,097,000.
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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