Zacks: Brokerages Expect Genomic Health, Inc. (GHDX) Will Announce Earnings of -$0.06 Per Share
Wall Street brokerages expect that Genomic Health, Inc. (NASDAQ:GHDX) will report earnings per share of ($0.06) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Genomic Health’s earnings. The highest EPS estimate is ($0.02) and the lowest is ($0.08). Genomic Health reported earnings of ($0.18) per share in the same quarter last year, which would indicate a positive year over year growth rate of 66.7%. The firm is scheduled to announce its next earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that Genomic Health will report full-year earnings of $0.01 per share for the current fiscal year, with EPS estimates ranging from ($0.05) to $0.05. For the next year, analysts anticipate that the firm will post earnings of $0.31 per share, with EPS estimates ranging from $0.05 to $0.58. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Genomic Health.
Genomic Health (NASDAQ:GHDX) last issued its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Genomic Health had a negative return on equity of 6.80% and a negative net margin of 2.53%. The company had revenue of $84 million for the quarter, compared to analysts’ expectations of $86.21 million. During the same quarter in the previous year, the business earned ($0.19) EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis.
Several research analysts have recently weighed in on the stock. TheStreet raised shares of Genomic Health from a “d+” rating to a “c-” rating in a report on Monday, February 27th. Jefferies Group LLC reissued a “hold” rating and set a $33.00 price objective on shares of Genomic Health in a report on Monday, June 12th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Genomic Health in a report on Wednesday, May 3rd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Genomic Health from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 18th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.00.
Shares of Genomic Health (GHDX) traded up 1.92% during midday trading on Tuesday, hitting $32.90. 17,917 shares of the stock traded hands. The firm’s market capitalization is $1.13 billion. The company’s 50-day moving average is $31.45 and its 200 day moving average is $30.47. Genomic Health has a 52 week low of $24.81 and a 52 week high of $33.96.
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In other Genomic Health news, Director Fred E. Cohen sold 8,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $30.68, for a total transaction of $253,110.00. Following the completion of the sale, the director now directly owns 74,145 shares of the company’s stock, valued at $2,274,768.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kimberly J. Popovits sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. The disclosure for this sale can be found here. Insiders have sold 63,000 shares of company stock valued at $1,927,385 over the last three months. 47.00% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Genomic Health by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 294,048 shares of the medical research company’s stock worth $9,259,000 after buying an additional 81,425 shares in the last quarter. Kimelman & Baird LLC boosted its stake in shares of Genomic Health by 8.2% in the first quarter. Kimelman & Baird LLC now owns 21,040 shares of the medical research company’s stock worth $663,000 after buying an additional 1,600 shares in the last quarter. Credit Suisse AG boosted its stake in shares of Genomic Health by 7.8% in the first quarter. Credit Suisse AG now owns 62,764 shares of the medical research company’s stock worth $1,977,000 after buying an additional 4,567 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Genomic Health by 25.6% in the first quarter. Bank of America Corp DE now owns 13,711 shares of the medical research company’s stock worth $432,000 after buying an additional 2,794 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Genomic Health by 8.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 482,675 shares of the medical research company’s stock worth $15,200,000 after buying an additional 38,199 shares in the last quarter. 89.49% of the stock is owned by institutional investors and hedge funds.
Genomic Health Company Profile
Genomic Health, Inc is a healthcare company that provides genomic-based diagnostic tests to personalize cancer treatment. The Company develops and commercializes genomic-based clinical laboratory services. The Company’s Oncotype IQ Genomic Intelligence Platform is consisted of its flagship line of Oncotype DX gene expression tests, as well as its Oncotype SEQ Liquid Select test.
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