Genomic Health (GHDX) Lowered to “Hold” at Zacks Investment Research

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Genomic Health (NASDAQ:GHDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Over the past three months, Genomic Health has been outperforming its industry. We are encouraged by the year-over-year rise in revenues in the last reported quarter, led by solid performances in the United States and globally. Within the prostate cancer space, the company saw increasing private coverage for the Oncotype DX GPS test. The company also witnessed a series of favorable developments with respect to its Oncotype DX Breast Recurrence Score tests. In this regard, Genomic Health received public coverage with the province of New Brunswickfor using the Oncotype DX Breast Recurrence Score test in early-stage breast cancer patients with node-negative disease. The company continues to gain from the implementation of both revised PAMA reimbursement rate and AJCC staging criteria. However, Genomic Health’s sole reliance on the Breast Oncotype DX test is a concern. Also, tough rivalry poses threat.”

Several other equities analysts have also issued reports on GHDX. ValuEngine upgraded Genomic Health from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. Cowen restated a “hold” rating and set a $50.00 target price on shares of Genomic Health in a research report on Monday, August 6th. Piper Jaffray Companies restated a “hold” rating and set a $60.00 target price on shares of Genomic Health in a research report on Friday, August 3rd. Canaccord Genuity boosted their target price on Genomic Health from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, TheStreet upgraded Genomic Health from a “c” rating to a “b-” rating in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Genomic Health has an average rating of “Hold” and a consensus target price of $45.44.

Shares of Genomic Health stock traded down $0.20 during trading on Wednesday, hitting $62.08. 5,204 shares of the company were exchanged, compared to its average volume of 370,963. The firm has a market capitalization of $2.19 billion, a P/E ratio of 6,216.00 and a beta of 0.44. Genomic Health has a 1-year low of $26.54 and a 1-year high of $62.47.

Genomic Health (NASDAQ:GHDX) last posted its earnings results on Thursday, August 2nd. The medical research company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.19. The company had revenue of $95.60 million during the quarter, compared to analyst estimates of $92.23 million. Genomic Health had a return on equity of 9.09% and a net margin of 1.18%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. equities research analysts expect that Genomic Health will post 0.56 EPS for the current fiscal year.

In other news, insider Steven Shak sold 5,500 shares of Genomic Health stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $49.56, for a total transaction of $272,580.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kimberly J. Popovits sold 10,000 shares of Genomic Health stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $48.89, for a total value of $488,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 113,279 shares of company stock worth $5,974,932 in the last quarter. 45.80% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in GHDX. Mackay Shields LLC bought a new stake in Genomic Health in the 1st quarter valued at approximately $417,000. Trexquant Investment LP bought a new stake in Genomic Health in the 1st quarter valued at approximately $551,000. American Century Companies Inc. lifted its stake in Genomic Health by 6.6% in the 1st quarter. American Century Companies Inc. now owns 207,340 shares of the medical research company’s stock valued at $6,488,000 after acquiring an additional 12,837 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Genomic Health in the 1st quarter valued at approximately $452,000. Finally, Swiss National Bank lifted its stake in Genomic Health by 7.1% in the 1st quarter. Swiss National Bank now owns 36,300 shares of the medical research company’s stock valued at $1,136,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 89.33% of the company’s stock.

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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