Raymond James Initiates Coverage on Genomic Health (GHDX)


Raymond James initiated coverage on shares of Genomic Health (NASDAQ:GHDX) in a research report released on Tuesday, October 23rd, Marketbeat Ratings reports. The brokerage issued a market perform rating on the medical research company’s stock.


GHDX has been the topic of several other reports. Piper Jaffray Companies reissued a hold rating and issued a $60.00 price target on shares of Genomic Health in a research note on Friday, August 3rd. Jefferies Financial Group reissued a hold rating and issued a $50.00 price target on shares of Genomic Health in a research note on Friday, August 3rd. BidaskClub downgraded shares of Genomic Health from a strong-buy rating to a buy rating in a research note on Thursday, October 4th. Zacks Investment Research downgraded shares of Genomic Health from a buy rating to a hold rating in a research note on Tuesday, August 7th. Finally, TheStreet raised shares of Genomic Health from a c rating to a b- rating in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $46.11.

GHDX opened at $70.79 on Tuesday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 7,079.00 and a beta of 0.44. Genomic Health has a 52-week low of $26.54 and a 52-week high of $73.95.

Genomic Health (NASDAQ:GHDX) last posted its quarterly earnings data on Tuesday, November 6th. The medical research company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.28. The business had revenue of $101.30 million for the quarter, compared to the consensus estimate of $94.27 million. Genomic Health had a net margin of 1.18% and a return on equity of 9.09%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. As a group, equities research analysts predict that Genomic Health will post 0.54 EPS for the current year.

In related news, insider Frederic Pla sold 5,500 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $55.93, for a total transaction of $307,615.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kimberly J. Popovits sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $52.60, for a total transaction of $3,156,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,279 shares of company stock valued at $12,083,105. 45.80% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in GHDX. Globeflex Capital L P acquired a new stake in Genomic Health during the second quarter worth about $116,000. Sun Life Financial INC acquired a new stake in Genomic Health during the second quarter worth about $122,000. SG Americas Securities LLC acquired a new stake in Genomic Health during the second quarter worth about $162,000. Teacher Retirement System of Texas acquired a new stake in Genomic Health during the second quarter worth about $213,000. Finally, CAPROCK Group Inc. acquired a new stake in Genomic Health during the second quarter worth about $234,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

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.

Featured Story: Return on Investment (ROI) Defined, Explained