Genomic Health’s (GHDX) “Hold” Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC reissued their hold rating on shares of Genomic Health, Inc. (NASDAQ:GHDX) in a research report released on Friday morning. The brokerage currently has a $34.00 price objective on the medical research company’s stock. Jefferies Group also issued estimates for Genomic Health’s Q3 2017 earnings at ($0.01) EPS, Q1 2018 earnings at $0.07 EPS, Q2 2018 earnings at $0.07 EPS, Q3 2018 earnings at $0.07 EPS and FY2018 earnings at $0.27 EPS.

Several other brokerages have also weighed in on GHDX. Zacks Investment Research raised shares of Genomic Health from a sell rating to a hold rating in a research report on Friday, October 13th. Cowen and Company reissued a hold rating and issued a $34.00 price target on shares of Genomic Health in a research report on Friday, September 1st. Canaccord Genuity reissued a buy rating and issued a $35.00 price target on shares of Genomic Health in a research report on Wednesday, September 27th. BidaskClub lowered shares of Genomic Health from a hold rating to a sell rating in a research report on Friday, August 4th. Finally, Piper Jaffray Companies reaffirmed a hold rating and set a $31.00 target price on shares of Genomic Health in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $32.00.

Shares of Genomic Health (NASDAQ GHDX) traded down 0.41% during trading on Friday, reaching $33.72. 95,695 shares of the company traded hands. The firm has a 50-day moving average price of $31.98 and a 200-day moving average price of $31.72. Genomic Health has a 12 month low of $26.37 and a 12 month high of $34.02. The firm’s market capitalization is $1.17 billion.

Genomic Health (NASDAQ:GHDX) last posted its quarterly earnings results on Tuesday, August 1st. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $85.50 million for the quarter, compared to analyst estimates of $86.08 million. Genomic Health had a negative return on equity of 4.33% and a negative net margin of 1.50%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.18) earnings per share. Equities research analysts anticipate that Genomic Health will post ($0.04) EPS for the current year.

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In related news, insider James J. Vaughn sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $30.59, for a total transaction of $244,720.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO G Bradley Cole sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $30.57, for a total transaction of $152,850.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,000 shares of company stock worth $1,022,620. 46.20% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in GHDX. Russell Investments Group Ltd. raised its holdings in Genomic Health by 25.4% during the 1st quarter. Russell Investments Group Ltd. now owns 24,322 shares of the medical research company’s stock worth $766,000 after purchasing an additional 4,925 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Genomic Health by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 88,577 shares of the medical research company’s stock valued at $2,789,000 after acquiring an additional 500 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Genomic Health by 13.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,282 shares of the medical research company’s stock valued at $259,000 after acquiring an additional 993 shares during the last quarter. American International Group Inc. increased its stake in shares of Genomic Health by 7.1% in the 1st quarter. American International Group Inc. now owns 11,505 shares of the medical research company’s stock valued at $362,000 after acquiring an additional 765 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Genomic Health by 5.6% in the 1st quarter. TIAA CREF Investment Management LLC now owns 71,233 shares of the medical research company’s stock valued at $2,243,000 after acquiring an additional 3,808 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

About Genomic Health

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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