Genomic Health (NASDAQ:GHDX) Upgraded to Buy at BidaskClub
A number of other brokerages have also recently commented on GHDX. Deutsche Bank set a $18.00 price objective on Commercial Metals and gave the stock a buy rating in a research note on Thursday, May 30th. Zacks Investment Research cut Hallmark Financial Services from a buy rating to a hold rating in a research note on Thursday. Canaccord Genuity boosted their price objective on ServiceNow from $285.00 to $300.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Needham & Company LLC set a $69.00 price objective on Genomic Health and gave the stock a buy rating in a research note on Wednesday, June 19th. Finally, Piper Jaffray Companies reiterated a buy rating on shares of Beigene in a research note on Thursday, June 20th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $64.29.
Shares of GHDX traded up $3.61 during midday trading on Friday, reaching $68.66. 5,232,015 shares of the company were exchanged, compared to its average volume of 494,640. The company’s 50-day moving average is $56.17. The stock has a market capitalization of $2.55 billion, a P/E ratio of 65.39 and a beta of 1.07. Genomic Health has a 1-year low of $50.77 and a 1-year high of $92.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 5.67 and a current ratio of 5.67.
In related news, insider Steven Shak sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.90, for a total value of $1,447,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO G Bradley Cole sold 6,471 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.08, for a total value of $369,364.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,025 shares of company stock worth $8,175,806. Insiders own 31.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GHDX. Norges Bank acquired a new position in shares of Genomic Health in the fourth quarter worth about $20,975,000. Fiera Capital Corp acquired a new stake in Genomic Health during the first quarter valued at approximately $20,134,000. FMR LLC raised its stake in Genomic Health by 83.8% during the fourth quarter. FMR LLC now owns 550,627 shares of the medical research company’s stock valued at $35,466,000 after buying an additional 251,085 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Genomic Health by 269.2% during the first quarter. Assenagon Asset Management S.A. now owns 267,410 shares of the medical research company’s stock valued at $18,732,000 after buying an additional 194,988 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Genomic Health by 20.5% during the first quarter. Acadian Asset Management LLC now owns 893,114 shares of the medical research company’s stock valued at $62,561,000 after buying an additional 151,846 shares in the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.
Genomic Health Company Profile
Genomic Health, Inc, a healthcare company, provides clinically actionable genomic information to personalize cancer treatment decisions in the United States and internationally. The company develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, which allows physicians and patients to make individualized treatment decisions.
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