Genomic Health (GHDX) Trading Down 0.8% After Insider Selling

Shares of Genomic Health, Inc. (NASDAQ:GHDX) fell 0.8% on Friday after an insider sold shares in the company. The company traded as low as $83.54 and last traded at $83.12. 9,859 shares were traded during trading, a decline of 97% from the average session volume of 298,569 shares. The stock had previously closed at $83.78.

Specifically, insider Steven Shak sold 5,500 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $63.05, for a total transaction of $346,775.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kimberly J. Popovits sold 60,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $52.60, for a total value of $3,156,000.00. The disclosure for this sale can be found here. Insiders have sold 228,750 shares of company stock worth $14,991,963 over the last ninety days. 45.80% of the stock is owned by insiders.

Several research analysts recently weighed in on the company. BidaskClub raised Genomic Health from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 30th. Cowen reissued a “hold” rating and set a $50.00 price target on shares of Genomic Health in a research report on Monday, August 6th. Piper Jaffray Companies reissued a “hold” rating and set a $60.00 price target on shares of Genomic Health in a research report on Friday, August 3rd. Canaccord Genuity upped their price target on Genomic Health from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Finally, TheStreet raised Genomic Health from a “c” rating to a “b-” rating in a research report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $48.33.

The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 102.17 and a beta of 0.44.

Genomic Health (NASDAQ:GHDX) last posted its quarterly earnings results on Tuesday, November 6th. The medical research company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.28. Genomic Health had a return on equity of 14.76% and a net margin of 4.95%. The firm had revenue of $101.30 million for the quarter, compared to analyst estimates of $94.27 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. Genomic Health’s quarterly revenue was up 23.2% on a year-over-year basis. Sell-side analysts expect that Genomic Health, Inc. will post 1.06 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Trexquant Investment LP acquired a new position in Genomic Health in the 3rd quarter worth about $202,000. FMR LLC increased its position in Genomic Health by 125.5% in the 3rd quarter. FMR LLC now owns 299,542 shares of the medical research company’s stock worth $21,034,000 after purchasing an additional 166,681 shares during the last quarter. Globeflex Capital L P increased its position in Genomic Health by 492.3% in the 3rd quarter. Globeflex Capital L P now owns 13,624 shares of the medical research company’s stock worth $957,000 after purchasing an additional 11,324 shares during the last quarter. BlackRock Inc. increased its position in Genomic Health by 1.7% in the 3rd quarter. BlackRock Inc. now owns 2,037,436 shares of the medical research company’s stock worth $143,070,000 after purchasing an additional 34,464 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Genomic Health by 5,461.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 40,822 shares of the medical research company’s stock worth $2,867,000 after purchasing an additional 40,088 shares during the last quarter. 89.90% 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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