Genomic Health (GHDX) Posts Quarterly Earnings Results, Beats Expectations By $0.28 EPS

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Genomic Health (NASDAQ:GHDX) announced its quarterly earnings results on Tuesday. The medical research company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.28, Briefing.com reports. The business had revenue of $101.30 million for the quarter, compared to the consensus estimate of $94.27 million. Genomic Health had a return on equity of 9.09% and a net margin of 1.18%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. Genomic Health updated its FY 2018 guidance to $1.03-1.08 EPS and its FY18 guidance to $1.03-$1.08 EPS.

Genomic Health stock traded up $19.39 during mid-day trading on Wednesday, hitting $90.18. 914,871 shares of the company’s stock traded hands, compared to its average volume of 268,878. The company has a market capitalization of $2.61 billion, a P/E ratio of 9,018.00 and a beta of 0.44. Genomic Health has a one year low of $26.54 and a one year high of $92.18.

Several analysts recently issued reports on GHDX shares. Zacks Investment Research raised Genomic Health from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Wednesday, August 29th. 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. Canaccord Genuity reissued a “buy” rating and issued a $82.00 price target (up previously from $70.00) on shares of Genomic Health in a report on Wednesday. Cowen reissued a “hold” rating and issued a $50.00 price target on shares of Genomic Health in a report on Monday, August 6th. Finally, Raymond James started coverage on Genomic Health in a report on Tuesday, October 23rd. They issued a “market perform” rating on the stock. 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 issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $48.33.

In other Genomic Health news, CEO Kimberly J. Popovits sold 25,000 shares of Genomic Health stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $66.26, for a total transaction of $1,656,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO G Bradley Cole sold 8,529 shares of Genomic Health stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $55.94, for a total value of $477,112.26. The disclosure for this sale can be found here. Insiders have sold a total of 199,279 shares of company stock worth $12,083,105 in the last ninety days. 45.80% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Genomic Health by 3.6% during the 2nd quarter. BlackRock Inc. now owns 2,002,972 shares of the medical research company’s stock valued at $100,949,000 after acquiring an additional 68,691 shares in the last quarter. Millennium Management LLC raised its stake in shares of Genomic Health by 114.0% in the 2nd quarter. Millennium Management LLC now owns 1,446,250 shares of the medical research company’s stock worth $72,891,000 after buying an additional 770,413 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Genomic Health by 18.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,404,924 shares of the medical research company’s stock worth $70,808,000 after buying an additional 222,324 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Genomic Health by 112.8% in the 3rd quarter. Acadian Asset Management LLC now owns 525,376 shares of the medical research company’s stock worth $36,891,000 after buying an additional 278,516 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Genomic Health by 4.7% in the 2nd quarter. Northern Trust Corp now owns 282,021 shares of the medical research company’s stock worth $14,214,000 after buying an additional 12,597 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History for Genomic Health (NASDAQ:GHDX)

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