Wall Street brokerages expect that Genomic Health, Inc. (NASDAQ:GHDX) will post sales of $106.61 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Genomic Health’s earnings, with the highest sales estimate coming in at $108.10 million and the lowest estimate coming in at $104.87 million. Genomic Health reported sales of $92.63 million during the same quarter last year, which indicates a positive year over year growth rate of 15.1%. The business is expected to issue its next quarterly earnings results on Wednesday, May 1st.
According to Zacks, analysts expect that Genomic Health will report full year sales of $444.60 million for the current year, with estimates ranging from $438.47 million to $450.85 million. For the next fiscal year, analysts anticipate that the business will report sales of $491.97 million, with estimates ranging from $480.72 million to $503.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Genomic Health.
Genomic Health (NASDAQ:GHDX) last released its quarterly earnings data on Wednesday, February 20th. The medical research company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Genomic Health had a net margin of 6.52% and a return on equity of 16.86%. The firm had revenue of $104.56 million for the quarter, compared to the consensus estimate of $101.55 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The business’s revenue was up 22.0% on a year-over-year basis.
A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of Genomic Health from a “buy” rating to a “hold” rating in a report on Saturday, March 30th. ValuEngine downgraded Genomic Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 5th. Piper Jaffray Companies boosted their price objective on Genomic Health to $86.00 and gave the stock a “neutral” rating in a report on Thursday, February 21st. Needham & Company LLC reissued a “strong-buy” rating and issued a $97.00 price objective (up from $86.00) on shares of Genomic Health in a research note on Thursday, February 21st. Finally, CIBC started coverage on Genomic Health in a report on Wednesday, December 19th. They issued a “market perform” rating on the stock. Ten investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $63.13.
In other news, Director Bros. Advisors Lp Baker sold 600 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $76.20, for a total transaction of $45,720.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Shak sold 75,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $68.56, for a total value of $5,142,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,268,338 shares of company stock valued at $165,109,141 over the last ninety days. 45.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Genomic Health by 7.6% in the fourth quarter. BlackRock Inc. now owns 2,191,689 shares of the medical research company’s stock worth $141,167,000 after acquiring an additional 154,253 shares during the period. Vanguard Group Inc increased its stake in shares of Genomic Health by 18.6% during the 3rd quarter. Vanguard Group Inc now owns 2,151,932 shares of the medical research company’s stock worth $151,109,000 after purchasing an additional 337,664 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Genomic Health by 18.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,151,932 shares of the medical research company’s stock worth $151,109,000 after purchasing an additional 337,664 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Genomic Health by 26.9% during the 3rd quarter. Renaissance Technologies LLC now owns 1,783,100 shares of the medical research company’s stock worth $125,209,000 after purchasing an additional 378,176 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Genomic Health by 41.1% in the 4th quarter. Acadian Asset Management LLC now owns 741,268 shares of the medical research company’s stock worth $47,741,000 after purchasing an additional 215,892 shares during the period. Institutional investors own 90.48% of the company’s stock.
Shares of NASDAQ:GHDX traded up $2.00 during midday trading on Monday, hitting $68.60. 580,953 shares of the company’s stock were exchanged, compared to its average volume of 655,424. The company has a market cap of $2.46 billion, a PE ratio of 65.33 and a beta of 0.95. Genomic Health has a 12 month low of $30.76 and a 12 month high of $92.18.
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.
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