Genomic Health, Inc. (GHDX) Expected to Announce Earnings of $0.07 Per Share

Wall Street analysts forecast that Genomic Health, Inc. (NASDAQ:GHDX) will post $0.07 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Genomic Health’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.05. Genomic Health reported earnings of $0.03 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 133.3%. The business is expected to announce its next earnings results on Wednesday, November 14th.

On average, analysts expect that Genomic Health will report full-year earnings of $0.54 per share for the current financial year, with EPS estimates ranging from $0.46 to $0.59. For the next financial year, analysts anticipate that the firm will report earnings of $0.76 per share, with EPS estimates ranging from $0.47 to $0.95. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Genomic Health.

Genomic Health (NASDAQ:GHDX) last released its quarterly earnings results on Thursday, August 2nd. The medical research company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.19. Genomic Health had a net margin of 1.18% and a return on equity of 9.09%. The business had revenue of $95.60 million for the quarter, compared to analysts’ expectations of $92.23 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. Genomic Health’s revenue was up 14.1% compared to the same quarter last year.

Several analysts have recently commented on GHDX shares. Zacks Investment Research raised shares of Genomic Health from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday, August 6th. Piper Jaffray Companies increased their price target on shares of Genomic Health from $34.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Canaccord Genuity increased their price target on shares of Genomic Health from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. LADENBURG THALM/SH SH cut shares of Genomic Health from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Wednesday, June 13th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $50.00 price target on shares of Genomic Health in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Genomic Health currently has an average rating of “Hold” and an average target price of $45.44.

Shares of GHDX traded down $1.87 during mid-day trading on Monday, hitting $64.80. 264,500 shares of the company traded hands, compared to its average volume of 261,946. Genomic Health has a one year low of $26.54 and a one year high of $72.83. The stock has a market capitalization of $2.52 billion, a P/E ratio of 6,598.50 and a beta of 0.45.

In other Genomic Health news, COO G Bradley Cole sold 8,529 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $55.94, for a total value of $477,112.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Shak sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $63.05, for a total transaction of $346,775.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,029 shares of company stock worth $6,111,525. Insiders own 45.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GHDX. Swiss National Bank boosted its position in shares of Genomic Health by 7.1% during the first quarter. Swiss National Bank now owns 36,300 shares of the medical research company’s stock worth $1,136,000 after purchasing an additional 2,400 shares in the last quarter. Northern Trust Corp boosted its position in shares of Genomic Health by 0.6% during the first quarter. Northern Trust Corp now owns 269,424 shares of the medical research company’s stock worth $8,430,000 after purchasing an additional 1,608 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Genomic Health by 894.1% during the first quarter. Russell Investments Group Ltd. now owns 42,449 shares of the medical research company’s stock worth $1,328,000 after purchasing an additional 38,179 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Genomic Health by 108.0% during the first quarter. GSA Capital Partners LLP now owns 44,300 shares of the medical research company’s stock worth $1,386,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of Genomic Health by 26.6% during the first quarter. Citadel Advisors LLC now owns 125,229 shares of the medical research company’s stock worth $3,918,000 after purchasing an additional 26,296 shares in the last quarter. 89.33% of the stock is currently owned by hedge funds and other institutional investors.

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: Asset Allocation, Balancing Your Investments

Get a free copy of the Zacks research report on Genomic Health (GHDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Genomic Health (NASDAQ:GHDX)

Receive News & Ratings for Genomic Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genomic Health and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply