Genomic Health, Inc. (GHDX) Upgraded at Zacks Investment Research

Genomic Health, Inc. (NASDAQ:GHDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Genomic Health continues to experience strong growth in its cancer scores. Moreover, the company recently announced expanded Medicare coverage of the Oncotype DX Genomic Prostate Score test. Recently, the company presented favorable results related to its Oncotype DX tests. The company is also witnessing healthy progress with regard to establishing coverage of its breast cancer test.  We are also encouraged by declining cost of sales combined with gross margin expansion, on account of higher revenue growth. On the flip side, over the past three months, Genomic Health has been trading below the broader industry. Moreover, the company’s rising operating losses continue to be a concern. Its sole reliance on profitability of Breast Oncotype DX test is another concern”

A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $35.00 price objective on shares of Genomic Health in a research report on Wednesday, September 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $33.00 price objective on shares of Genomic Health in a research report on Thursday, September 14th. Cowen and Company reaffirmed a “hold” rating and set a $34.00 price objective on shares of Genomic Health in a research report on Friday, September 1st. BidaskClub raised shares of Genomic Health from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $31.00 price objective on shares of Genomic Health in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $31.83.

Genomic Health (NASDAQ:GHDX) last issued its earnings results on Tuesday, August 1st. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $85.50 million during the quarter, compared to analyst estimates of $86.08 million. Genomic Health had a negative net margin of 1.50% and a negative return on equity of 4.33%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) EPS.

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In other news, insider Phillip G. Febbo sold 3,174 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $33.57, for a total value of $106,551.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kimberly J. Popovits sold 5,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $30.22, for a total transaction of $151,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,174 shares of company stock valued at $1,129,171. 46.20% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Eagle Asset Management Inc. boosted its holdings in shares of Genomic Health by 18.4% in the second quarter. Eagle Asset Management Inc. now owns 379,473 shares of the medical research company’s stock valued at $12,351,000 after acquiring an additional 58,920 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Genomic Health by 7.1% in the first quarter. American International Group Inc. now owns 11,505 shares of the medical research company’s stock valued at $362,000 after acquiring an additional 765 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Genomic Health by 8.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 482,675 shares of the medical research company’s stock valued at $15,200,000 after acquiring an additional 38,199 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Genomic Health by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 294,048 shares of the medical research company’s stock valued at $9,259,000 after acquiring an additional 81,425 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Genomic Health by 190.7% in the second quarter. GSA Capital Partners LLP now owns 43,900 shares of the medical research company’s stock valued at $1,429,000 after acquiring an additional 28,800 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

About Genomic Health

Genomic Health, Inc is a healthcare company that provides genomic-based diagnostic tests to personalize cancer treatment. The Company develops and commercializes genomic-based clinical laboratory services. The Company’s Oncotype IQ Genomic Intelligence Platform is consisted of its flagship line of Oncotype DX gene expression tests, as well as its Oncotype SEQ Liquid Select test.

Analyst Recommendations for Genomic Health (NASDAQ:GHDX)

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