Jefferies Financial Group Weighs in on Genomic Health, Inc.’s Q3 2019 Earnings (NASDAQ:GHDX)

Genomic Health, Inc. (NASDAQ:GHDX) – Equities research analysts at Jefferies Financial Group reduced their Q3 2019 earnings estimates for Genomic Health in a research note issued to investors on Monday, August 12th. Jefferies Financial Group analyst B. Couillard now expects that the medical research company will post earnings of $0.35 per share for the quarter, down from their prior forecast of $0.37. Jefferies Financial Group also issued estimates for Genomic Health’s Q4 2019 earnings at $0.40 EPS.

Genomic Health (NASDAQ:GHDX) last posted its earnings results on Monday, July 29th. The medical research company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. Genomic Health had a return on equity of 19.51% and a net margin of 11.69%. The business had revenue of $114.14 million during the quarter, compared to analysts’ expectations of $110.78 million. During the same period in the prior year, the business earned $0.23 EPS. Genomic Health’s revenue for the quarter was up 19.4% compared to the same quarter last year.

A number of other research firms also recently weighed in on GHDX. Barclays raised Genomic Health from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $45.00 to $72.00 in a research report on Tuesday, July 30th. Deutsche Bank reduced their price target on Genomic Health from $80.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Piper Jaffray Companies downgraded Genomic Health from an “overweight” rating to a “neutral” rating in a research report on Monday, July 29th. Zacks Investment Research raised Genomic Health from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Wednesday, July 31st. Finally, BidaskClub raised Genomic Health from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $69.86.

NASDAQ GHDX opened at $73.80 on Wednesday. Genomic Health has a 52-week low of $50.77 and a 52-week high of $92.18. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.74 and a current ratio of 5.74. The business has a 50 day simple moving average of $64.01 and a 200 day simple moving average of $65.64. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 70.29 and a beta of 1.06.

In other news, insider Kimberly J. Popovits sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.76, for a total value of $3,688,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James J. Vaughn sold 8,745 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $52.47, for a total value of $458,850.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 425,601 shares of company stock valued at $28,752,796. Insiders own 31.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GHDX. Pictet Asset Management Ltd. lifted its holdings in Genomic Health by 31.8% during the 2nd quarter. Pictet Asset Management Ltd. now owns 215,537 shares of the medical research company’s stock valued at $12,538,000 after purchasing an additional 52,037 shares during the last quarter. Schroder Investment Management Group increased its position in Genomic Health by 55.2% during the 2nd quarter. Schroder Investment Management Group now owns 22,682 shares of the medical research company’s stock worth $1,319,000 after buying an additional 8,063 shares during the period. Nuveen Asset Management LLC bought a new position in Genomic Health during the 2nd quarter worth $25,290,000. Price T Rowe Associates Inc. MD increased its position in Genomic Health by 1.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 428,533 shares of the medical research company’s stock worth $24,928,000 after buying an additional 5,279 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Genomic Health by 17.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 20,492 shares of the medical research company’s stock worth $1,192,000 after buying an additional 3,085 shares during the period. 95.63% of the stock is owned by institutional investors.

About Genomic Health

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

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