Genomic Health (GHDX) Trading Down 5.2% Following Insider Selling

Genomic Health, Inc. (NASDAQ:GHDX) shares traded down 5.2% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $73.48 and last traded at $73.97. 705,624 shares were traded during trading, an increase of 140% from the average session volume of 293,908 shares. The stock had previously closed at $78.00.

Specifically, insider Steven Shak sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $63.05, for a total value of $346,775.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Fred E. Cohen sold 8,250 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $61.51, for a total transaction of $507,457.50. Following the completion of the transaction, the director now directly owns 75,572 shares in the company, valued at $4,648,433.72. The disclosure for this sale can be found here. Insiders have sold 1,444,601 shares of company stock worth $111,838,928 over the last three months. 45.80% of the stock is owned by insiders.

GHDX has been the topic of a number of recent research reports. Raymond James initiated coverage on shares of Genomic Health in a research note on Tuesday, October 23rd. They issued a “market perform” rating on the stock. Zacks Investment Research reaffirmed a “hold” rating on shares of Genomic Health in a research note on Tuesday, November 13th. BidaskClub raised shares of Genomic Health from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 30th. Canaccord Genuity reaffirmed a “buy” rating and issued a $82.00 price objective (up from $70.00) on shares of Genomic Health in a research note on Wednesday, November 7th. Finally, Cowen reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Genomic Health in a research note on Monday, August 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $48.33.

The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 7,397.00 and a beta of 0.39.

Genomic Health (NASDAQ:GHDX) last announced its quarterly earnings results on Tuesday, November 6th. The medical research company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.28. The company had revenue of $101.30 million for 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 14.05%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. As a group, sell-side analysts expect that Genomic Health, Inc. will post 1.06 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in GHDX. Globeflex Capital L P bought a new position in shares of Genomic Health during the second quarter worth $116,000. Sun Life Financial INC bought a new position in shares of Genomic Health during the second quarter worth $122,000. SG Americas Securities LLC bought a new position in shares of Genomic Health during the second quarter worth $162,000. Pacer Advisors Inc. bought a new position in shares of Genomic Health during the third quarter worth $171,000. Finally, Trexquant Investment LP bought a new position in shares of Genomic Health during the third quarter worth $202,000. 89.21% of the stock is currently owned by institutional investors.

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Genomic Health Company Profile (NASDAQ:GHDX)

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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