Guardant Health (NASDAQ:GH) Price Target Lowered to $28.00 at The Goldman Sachs Group

Guardant Health (NASDAQ:GH) had its price objective cut by The Goldman Sachs Group from $32.00 to $28.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on the company. Piper Sandler lowered their price target on Guardant Health from $40.00 to $30.00 and set an overweight rating on the stock in a report on Monday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of Guardant Health from $60.00 to $45.00 and set an overweight rating on the stock in a research note on Friday, February 23rd. Guggenheim reissued a neutral rating on shares of Guardant Health in a research note on Friday, April 5th. Finally, Canaccord Genuity Group lowered their price objective on shares of Guardant Health from $50.00 to $45.00 and set a buy rating on the stock in a research report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $40.40.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $16.67 on Monday. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. Guardant Health has a fifty-two week low of $15.89 and a fifty-two week high of $41.06. The stock has a market cap of $2.03 billion, a PE ratio of -3.89 and a beta of 0.87. The stock has a fifty day moving average of $19.34 and a 200-day moving average of $23.36.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.65). The firm had revenue of $155.05 million during the quarter, compared to the consensus estimate of $151.71 million. Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. Equities research analysts anticipate that Guardant Health will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kumud Kalia bought 2,187 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $17.82 per share, for a total transaction of $38,972.34. Following the completion of the acquisition, the insider now owns 12,722 shares of the company’s stock, valued at $226,706.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Guardant Health

A number of institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. purchased a new position in Guardant Health during the 4th quarter valued at about $167,137,000. Eventide Asset Management LLC lifted its holdings in Guardant Health by 113.8% in the 2nd quarter. Eventide Asset Management LLC now owns 4,008,602 shares of the company’s stock worth $143,508,000 after buying an additional 2,133,582 shares during the period. Capital International Investors grew its position in shares of Guardant Health by 71.0% in the 1st quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock worth $336,607,000 after buying an additional 2,110,240 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Guardant Health by 243.3% during the fourth quarter. Alliancebernstein L.P. now owns 2,515,992 shares of the company’s stock valued at $68,435,000 after buying an additional 1,783,131 shares during the period. Finally, Norges Bank bought a new position in shares of Guardant Health during the fourth quarter valued at approximately $25,520,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.