Guardant Health (NASDAQ:GH) Coverage Initiated by Analysts at Craig Hallum

Equities researchers at Craig Hallum initiated coverage on shares of Guardant Health (NASDAQ:GH) in a report released on Wednesday, StockNewsAPI reports. The firm set a “buy” rating and a $28.00 price target on the stock. Craig Hallum’s price target suggests a potential upside of 56.34% from the company’s previous close.

A number of other equities analysts have also commented on GH. Canaccord Genuity Group dropped their price target on Guardant Health from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. JPMorgan Chase & Co. lowered their price objective on Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. The Goldman Sachs Group lowered their price objective on Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Guggenheim reissued a “neutral” rating on shares of Guardant Health in a research note on Friday, April 5th. Finally, Piper Sandler decreased their price target on Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and an average target price of $39.27.

Guardant Health Stock Performance

GH traded up $0.57 during midday trading on Wednesday, reaching $17.91. The company had a trading volume of 281,316 shares, compared to its average volume of 1,874,299. The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. The business has a 50-day moving average of $19.10 and a two-hundred day moving average of $23.11. The company has a market cap of $2.18 billion, a P/E ratio of -4.17 and a beta of 0.87. Guardant Health has a 1 year low of $15.81 and a 1 year high of $41.06.

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

Insider Buying and Selling

In other Guardant Health news, insider Kumud Kalia purchased 2,187 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average price of $17.82 per share, for a total transaction of $38,972.34. Following the purchase, the insider now directly owns 12,722 shares in the company, valued at $226,706.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Guardant Health

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Guardant Health by 1.4% in the third quarter. Vanguard Group Inc. now owns 10,950,230 shares of the company’s stock valued at $324,565,000 after purchasing an additional 146,902 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Guardant Health by 2.9% during the third quarter. The Manufacturers Life Insurance Company now owns 568,148 shares of the company’s stock worth $16,840,000 after buying an additional 16,111 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Guardant Health during the third quarter worth approximately $1,689,000. Rhumbline Advisers lifted its position in Guardant Health by 5.8% in the third quarter. Rhumbline Advisers now owns 159,660 shares of the company’s stock worth $4,732,000 after purchasing an additional 8,688 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Guardant Health by 31.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,211,499 shares of the company’s stock worth $35,909,000 after purchasing an additional 292,888 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Company Profile

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.