Wall Street analysts expect that Genomic Health, Inc. (NASDAQ:GHDX) will post sales of $94.64 million for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Genomic Health’s earnings, with estimates ranging from $93.50 million to $95.97 million. Genomic Health posted sales of $83.82 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.9%. The business is expected to announce its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Genomic Health will report full year sales of $380.35 million for the current financial year, with estimates ranging from $375.96 million to $382.60 million. For the next financial year, analysts forecast that the company will post sales of $419.65 million per share, with estimates ranging from $407.50 million to $426.41 million. Zacks’ sales averages are an average based on a survey of research firms that follow Genomic Health.
Genomic Health (NASDAQ:GHDX) last posted its quarterly earnings results on Thursday, August 2nd. The medical research company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.19. The company had revenue of $95.60 million for the quarter, compared to analysts’ expectations of $92.23 million. Genomic Health had a return on equity of 9.09% and a net margin of 1.18%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) earnings per share.
Several research analysts have issued reports on the company. Canaccord Genuity upped their price target on Genomic Health from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, June 4th. ValuEngine raised Genomic Health from a “hold” rating to a “buy” rating in a report on Friday, May 11th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $60.00 price target on shares of Genomic Health in a report on Friday, August 3rd. BidaskClub raised Genomic Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 12th. Finally, Zacks Investment Research cut Genomic Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.78.
In other Genomic Health news, insider Steven Shak sold 5,500 shares of Genomic Health stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $50.22, for a total transaction of $276,210.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO G Bradley Cole sold 8,529 shares of Genomic Health stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $55.94, for a total transaction of $477,112.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,693 shares of company stock worth $10,251,425. Corporate insiders own 45.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Genomic Health by 3.6% during the 2nd quarter. BlackRock Inc. now owns 2,002,972 shares of the medical research company’s stock valued at $100,949,000 after acquiring an additional 68,691 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Genomic Health by 114.0% during the 2nd quarter. Millennium Management LLC now owns 1,446,250 shares of the medical research company’s stock valued at $72,891,000 after acquiring an additional 770,413 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Genomic Health by 18.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,404,924 shares of the medical research company’s stock valued at $70,808,000 after acquiring an additional 222,324 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Genomic Health by 136.0% during the 1st quarter. Point72 Asset Management L.P. now owns 388,400 shares of the medical research company’s stock valued at $12,153,000 after acquiring an additional 223,800 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Genomic Health by 0.6% during the 1st quarter. Northern Trust Corp now owns 269,424 shares of the medical research company’s stock valued at $8,430,000 after acquiring an additional 1,608 shares in the last quarter. Institutional investors and hedge funds own 90.87% of the company’s stock.
Shares of NASDAQ GHDX traded up $1.15 during trading on Monday, hitting $54.79. The company had a trading volume of 357,701 shares, compared to its average volume of 243,053. The stock has a market capitalization of $1.95 billion, a P/E ratio of 5,479.00 and a beta of 0.49. Genomic Health has a 52 week low of $26.54 and a 52 week high of $59.49.
Genomic Health Company Profile
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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