BidaskClub Downgrades Genomic Health (NASDAQ:GHDX) to Hold

BidaskClub cut shares of Genomic Health (NASDAQ:GHDX) from a buy rating to a hold rating in a research report released on Saturday morning, BidAskClub reports.

Several other research firms have also recently weighed in on GHDX. ValuEngine cut shares of Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. Needham & Company LLC set a $69.00 price objective on shares of Genomic Health and gave the company a buy rating in a research report on Wednesday, June 19th. Canaccord Genuity raised their price objective on shares of ServiceNow from $285.00 to $300.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Piper Jaffray Companies restated a buy rating on shares of Beigene in a research report on Thursday, June 20th. Finally, Deutsche Bank set a $18.00 price objective on shares of Commercial Metals and gave the company a buy rating in a research report on Thursday, May 30th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $64.86.

GHDX opened at $56.05 on Friday. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 0.19. The firm has a market cap of $2.10 billion, a PE ratio of 53.38 and a beta of 1.07. Genomic Health has a 1-year low of $50.77 and a 1-year high of $92.18. The company has a 50-day moving average of $55.00.

Genomic Health (NASDAQ:GHDX) last posted its quarterly earnings data on Tuesday, May 7th. The medical research company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $108.80 million during the quarter, compared to analysts’ expectations of $106.75 million. Genomic Health had a net margin of 10.35% and a return on equity of 18.70%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.11) EPS. On average, sell-side analysts expect that Genomic Health will post 1.46 EPS for the current fiscal year.

In other news, insider Steven Shak sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $51.38, for a total value of $2,569,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO G Bradley Cole sold 11,424 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $57.17, for a total transaction of $653,110.08. The disclosure for this sale can be found here. Insiders sold a total of 152,025 shares of company stock worth $8,175,806 in the last ninety days. Insiders own 31.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Genomic Health by 7.6% in the 4th quarter. BlackRock Inc. now owns 2,191,689 shares of the medical research company’s stock valued at $141,167,000 after purchasing an additional 154,253 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Genomic Health by 20.5% in the 1st quarter. Acadian Asset Management LLC now owns 893,114 shares of the medical research company’s stock valued at $62,561,000 after purchasing an additional 151,846 shares during the last quarter. FMR LLC boosted its stake in shares of Genomic Health by 83.8% in the 4th quarter. FMR LLC now owns 550,627 shares of the medical research company’s stock valued at $35,466,000 after purchasing an additional 251,085 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Genomic Health by 30.0% in the 1st quarter. OppenheimerFunds Inc. now owns 469,560 shares of the medical research company’s stock valued at $32,893,000 after purchasing an additional 108,337 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Genomic Health by 21.6% during the 1st quarter. Clearbridge Investments LLC now owns 340,847 shares of the medical research company’s stock worth $23,876,000 after acquiring an additional 60,432 shares during the last quarter. 95.51% of the stock is currently owned by institutional investors.

Genomic Health Company Profile

Genomic Health, Inc, a healthcare company, provides clinically actionable genomic information to personalize cancer treatment decisions in the United States and internationally. The company develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, which allows physicians and patients to make individualized treatment decisions.

Recommended Story: Why is total return important?

Analyst Recommendations for Genomic Health (NASDAQ:GHDX)

Receive News & Ratings for Genomic Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genomic Health and related companies with MarketBeat.com's FREE daily email newsletter.