Brokerages Set Genomic Health, Inc. (NASDAQ:GHDX) Price Target at $64.29

Genomic Health, Inc. (NASDAQ:GHDX) has been given a consensus recommendation of “Hold” by the fifteen research firms that are covering the company, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $64.00.

GHDX has been the topic of a number of recent analyst reports. Canaccord Genuity downgraded shares of Genomic Health from a “buy” rating to a “hold” rating and cut their price target for the stock from $77.00 to $72.00 in a research note on Tuesday. Needham & Company LLC downgraded shares of Genomic Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank dropped their price objective on shares of Genomic Health from $80.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Barclays raised shares of Genomic Health from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $45.00 to $72.00 in a research report on Tuesday. Finally, BidaskClub raised shares of Genomic Health from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th.

NASDAQ:GHDX traded down $0.46 during trading hours on Friday, reaching $72.53. 658,965 shares of the company were exchanged, compared to its average volume of 1,002,647. The company has a current ratio of 5.74, a quick ratio of 5.67 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 69.08 and a beta of 1.06. Genomic Health has a 52-week low of $50.77 and a 52-week high of $92.18. The company’s 50 day moving average is $58.86.

Genomic Health (NASDAQ:GHDX) last posted its quarterly earnings results on Monday, July 29th. The medical research company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.07. The company had revenue of $114.14 million for the quarter, compared to the consensus estimate of $110.78 million. Genomic Health had a net margin of 11.69% and a return on equity of 19.51%. Genomic Health’s revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. On average, analysts forecast that Genomic Health will post 1.5 EPS for the current fiscal year.

In other Genomic Health news, insider Steven Shak sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $57.90, for a total transaction of $1,447,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James J. Vaughn sold 8,745 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $52.47, for a total transaction of $458,850.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,025 shares of company stock valued at $8,175,806. Company insiders own 31.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. increased its position in shares of Genomic Health by 0.5% in the fourth quarter. Macquarie Group Ltd. now owns 38,200 shares of the medical research company’s stock worth $2,461,000 after acquiring an additional 200 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Genomic Health by 2.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 7,000 shares of the medical research company’s stock worth $394,000 after acquiring an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Genomic Health by 29.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,923 shares of the medical research company’s stock worth $112,000 after acquiring an additional 441 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Genomic Health by 166.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 790 shares of the medical research company’s stock worth $55,000 after acquiring an additional 493 shares in the last quarter. Finally, Advisor Group Inc. increased its position in shares of Genomic Health by 34.9% in the fourth quarter. Advisor Group Inc. now owns 1,995 shares of the medical research company’s stock worth $129,000 after acquiring an additional 516 shares in the last quarter. 95.06% of the stock is currently owned by hedge funds and other institutional investors.

About Genomic Health

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.

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Analyst Recommendations for Genomic Health (NASDAQ:GHDX)

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