Research Analysts Set Expectations for Genomic Health, Inc.’s FY2018 Earnings (NASDAQ:GHDX)

Genomic Health, Inc. (NASDAQ:GHDX) – Stock analysts at Piper Jaffray Companies upped their FY2018 earnings per share (EPS) estimates for shares of Genomic Health in a research report issued to clients and investors on Tuesday, November 6th, Zacks Investment Research reports. Piper Jaffray Companies analyst W. Quirk now forecasts that the medical research company will post earnings per share of $1.07 for the year, up from their prior estimate of $0.59. Piper Jaffray Companies also issued estimates for Genomic Health’s Q4 2018 earnings at $0.33 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.26 EPS and FY2019 earnings at $1.05 EPS.

Genomic Health (NASDAQ:GHDX) last announced its earnings results on Tuesday, November 6th. The medical research company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.28. Genomic Health had a net margin of 4.95% and a return on equity of 14.05%. The business had revenue of $101.30 million for the quarter, compared to analyst estimates of $94.27 million. During the same quarter last year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year.

GHDX has been the topic of several other research reports. BidaskClub lowered shares of Genomic Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Zacks Investment Research lowered shares of Genomic Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Raymond James began coverage on shares of Genomic Health in a research report on Tuesday, October 23rd. They issued a “market perform” rating on the stock. Cowen reissued a “hold” rating and issued a $50.00 price target on shares of Genomic Health in a research note on Monday, August 6th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $82.00 price target (up from $70.00) on shares of Genomic Health in a research note on Wednesday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $48.33.

Shares of NASDAQ GHDX traded down $1.05 during trading on Friday, hitting $78.00. The company had a trading volume of 738,600 shares, compared to its average volume of 292,141. Genomic Health has a fifty-two week low of $26.54 and a fifty-two week high of $92.18. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 7,800.00 and a beta of 0.39.

In other Genomic Health news, Director Bros. Advisors Lp Baker sold 202,134 shares of Genomic Health stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $78.49, for a total transaction of $15,865,497.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Frederic Pla sold 1,500 shares of Genomic Health stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $65.43, for a total transaction of $98,145.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,444,601 shares of company stock worth $111,838,928. Insiders own 45.80% of the company’s stock.

Hedge funds have recently modified their holdings of the business. First Quadrant L P CA raised its stake in Genomic Health by 2,575.5% during the third quarter. First Quadrant L P CA now owns 21,083 shares of the medical research company’s stock worth $1,480,000 after purchasing an additional 20,295 shares during the period. Bank of New York Mellon Corp raised its stake in Genomic Health by 30.7% during the second quarter. Bank of New York Mellon Corp now owns 122,246 shares of the medical research company’s stock worth $6,161,000 after purchasing an additional 28,710 shares during the period. Northern Trust Corp raised its stake in Genomic Health by 4.7% during the second quarter. Northern Trust Corp now owns 282,021 shares of the medical research company’s stock worth $14,214,000 after purchasing an additional 12,597 shares during the period. Millennium Management LLC raised its stake in Genomic Health by 114.0% during the second quarter. Millennium Management LLC now owns 1,446,250 shares of the medical research company’s stock worth $72,891,000 after purchasing an additional 770,413 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Genomic Health during the second quarter worth about $213,000. 89.21% of the stock is currently owned by 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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