Genomic Health Inc. (GHDX) Shares Down 5.1%
Genomic Health Inc. (NASDAQ:GHDX)’s share price traded down 5.1% during trading on Tuesday . The company traded as low as $28.59 and last traded at $28.80, with a volume of 59,492 shares. The stock had previously closed at $30.34.
A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Genomic Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Leerink Swann reissued a “buy” rating on shares of Genomic Health in a research note on Tuesday, June 21st. Canaccord Genuity reissued a “buy” rating on shares of Genomic Health in a research note on Thursday, May 5th. Finally, 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 note on Wednesday. Three research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $32.89.
The firm has a 50 day moving average price of $27.40 and a 200 day moving average price of $26.81. The firm’s market capitalization is $974.02 million.
Genomic Health (NASDAQ:GHDX) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same period last year, the business posted ($0.29) earnings per share. The business earned $81.97 million during the quarter, compared to analysts’ expectations of $81.27 million. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts predict that Genomic Health Inc. will post ($0.46) earnings per share for the current year.
In related news, insider James J. Vaughn sold 1,997 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 34,076 shares of the company’s stock, valued at $954,128. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Phillip G. Febbo sold 6,324 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $27.20, for a total transaction of $172,012.80. Following the completion of the transaction, the insider now directly owns 15,113 shares of the company’s stock, valued at $411,073.60. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Marshall Wace LLP acquired a new position in Genomic Health during the fourth quarter worth $6,097,000. Russell Frank Co increased its stake 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 in the last quarter. Royce & Associates LLC increased its stake 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 in the last quarter. Finally, California State Teachers Retirement System increased its stake 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 in the last quarter.
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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