Short Interest in Genomic Health, Inc. (GHDX) Increases By 90.4%

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Genomic Health, Inc. (NASDAQ:GHDX) was the target of a significant increase in short interest in the month of September. As of September 28th, there was short interest totalling 958,498 shares, an increase of 90.4% from the September 14th total of 503,528 shares. Based on an average daily volume of 361,338 shares, the short-interest ratio is presently 2.7 days. Currently, 2.7% of the shares of the company are sold short.

In other Genomic Health news, CFO G Bradley Cole sold 5,000 shares of the stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $63.19, for a total transaction of $315,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Frederic Pla sold 1,500 shares of the stock in a transaction on Monday, October 8th. The shares were sold at an average price of $65.43, for a total value of $98,145.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,529 shares of company stock valued at $8,159,120. 45.80% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Globeflex Capital L P purchased a new stake in shares of Genomic Health in the second quarter worth $116,000. Sun Life Financial INC purchased a new stake in Genomic Health during the second quarter valued at about $122,000. SG Americas Securities LLC purchased a new stake in Genomic Health during the second quarter valued at about $162,000. Teacher Retirement System of Texas purchased a new stake in Genomic Health during the second quarter valued at about $213,000. Finally, CAPROCK Group Inc. purchased a new position in shares of Genomic Health in the second quarter worth about $234,000. Institutional investors own 89.33% of the company’s stock.

Genomic Health stock opened at $65.33 on Friday. Genomic Health has a one year low of $26.54 and a one year high of $72.83. The firm has a market capitalization of $2.52 billion, a PE ratio of 6,533.00 and a beta of 0.45.

Genomic Health (NASDAQ:GHDX) last issued its quarterly earnings data on Thursday, August 2nd. The medical research company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.19. Genomic Health had a return on equity of 9.09% and a net margin of 1.18%. The company had revenue of $95.60 million for the quarter, compared to the consensus estimate of $92.23 million. During the same quarter last year, the business posted ($0.08) earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that Genomic Health will post 0.54 EPS for the current fiscal year.

GHDX has been the subject of a number of analyst reports. Zacks Investment Research lowered Genomic Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 24th. Piper Jaffray Companies raised their price target on Genomic Health from $34.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $50.00 price target on shares of Genomic Health in a report on Friday, August 3rd. Canaccord Genuity raised their price target on Genomic Health from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Cowen reaffirmed a “hold” rating and issued a $50.00 price target on shares of Genomic Health in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $46.11.

About Genomic Health

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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