Genomic Health Inc. (GHDX) Sees Large Volume Increase
Genomic Health Inc. (NASDAQ:GHDX) shares saw unusually-strong trading volume on Wednesday . Approximately 275,505 shares traded hands during mid-day trading, an increase of 71% from the previous session’s volume of 160,841 shares.The stock last traded at $27.92 and had previously closed at $27.27.
A number of analysts recently issued reports on GHDX shares. Leerink Swann reaffirmed a “buy” rating on shares of Genomic Health in a research report on Thursday, May 26th. Canaccord Genuity raised Genomic Health from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Wednesday, June 1st. Finally, Zacks Investment Research raised Genomic Health from a “sell” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Genomic Health currently has an average rating of “Hold” and a consensus target price of $33.50.
The firm has a 50-day moving average price of $26.69 and a 200 day moving average price of $27.03. The firm’s market cap is $921.78 million.
Genomic Health (NASDAQ:GHDX) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.05. The business had revenue of $80.89 million for the quarter, compared to the consensus estimate of $78.12 million. The company’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) EPS. On average, analysts forecast that Genomic Health Inc. will post ($0.45) EPS for the current year.
In other news, insider Steven Shak sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $25.43, for a total value of $254,300.00. Following the transaction, the insider now owns 336,383 shares in the company, valued at $8,554,219.69. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO G Bradley Cole sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $26.62, for a total transaction of $133,100.00. Following the completion of the transaction, the chief operating officer now owns 40,226 shares in the company, valued at approximately $1,070,816.12. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in shares of Genomic Health during the fourth quarter valued at about $6,097,000. ProShare Advisors LLC increased 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 valued at $1,012,000 after buying an additional 2,287 shares in the last quarter. Russell Frank Co increased 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 valued at $3,517,000 after buying an additional 76,416 shares in the last quarter. EAM Investors LLC purchased a new position in shares of Genomic Health during the fourth quarter valued at about $1,055,000. Finally, California State Teachers Retirement System increased 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 valued at $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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