Canaccord Genuity reaffirmed their buy rating on shares of Genomic Health (NASDAQ:GHDX) in a research note issued to investors on Wednesday, The Fly reports. Canaccord Genuity currently has a $82.00 price target on the medical research company’s stock, up from their prior price target of $70.00.
A number of other research firms have also recently commented on GHDX. Zacks Investment Research upgraded shares of Genomic Health from a hold rating to a buy rating and set a $67.00 target price for the company in a research note on Wednesday, August 29th. Piper Jaffray Companies lifted their target price on shares of Genomic Health from $34.00 to $50.00 and gave the stock a neutral rating in a research note on Friday, July 27th. Cowen reiterated a hold rating and issued a $50.00 target price on shares of Genomic Health in a research note on Monday, August 6th. Raymond James started coverage on shares of Genomic Health in a research note on Tuesday, October 23rd. They issued a market perform rating for the company. Finally, BidaskClub upgraded shares of Genomic Health from a buy rating to a strong-buy rating in a research note on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $48.33.
GHDX stock traded down $2.11 during trading on Wednesday, reaching $81.67. The company had a trading volume of 1,054,132 shares, compared to its average volume of 332,033. The stock has a market capitalization of $3.23 billion, a PE ratio of 8,167.00 and a beta of 0.44. Genomic Health has a twelve month low of $26.54 and a twelve month high of $92.18.
Genomic Health (NASDAQ:GHDX) last released its earnings results on Tuesday, November 6th. The medical research company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.28. The company had revenue of $101.30 million during the quarter, compared to analysts’ expectations of $94.27 million. Genomic Health had a net margin of 4.95% and a return on equity of 14.76%. Genomic Health’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the business earned ($0.06) EPS. Sell-side analysts anticipate that Genomic Health will post 1.06 earnings per share for the current year.
In other news, COO Frederic Pla sold 1,500 shares of Genomic Health stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $65.43, for a total transaction of $98,145.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kimberly J. Popovits sold 60,000 shares of Genomic Health stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $52.60, for a total transaction of $3,156,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 228,750 shares of company stock valued at $14,991,963. Company insiders own 45.80% of the company’s stock.
Several large investors have recently bought and sold shares of GHDX. Globeflex Capital L P purchased a new stake in Genomic Health in the 2nd quarter worth $116,000. Sun Life Financial INC purchased a new stake in Genomic Health in the 2nd quarter worth $122,000. SG Americas Securities LLC purchased a new stake in Genomic Health in the 2nd quarter worth $162,000. Trexquant Investment LP purchased a new stake in Genomic Health in the 3rd quarter worth $202,000. Finally, Teacher Retirement System of Texas purchased a new stake in Genomic Health in the 2nd quarter worth $213,000. 89.90% of the stock is owned by hedge funds and other institutional investors.
About Genomic Health
Genomic Health, Inc, a healthcare company, provides actionable genomic information to personalize cancer treatment decisions worldwide. It develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, allowing physicians and patients to make individualized treatment decisions.
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