Guardant Health’s (GH) “Buy” Rating Reaffirmed at Guggenheim

Guardant Health (NASDAQ:GH)‘s stock had its “buy” rating reissued by equities research analysts at Guggenheim in a research note issued on Wednesday,Benzinga reports.

GH has been the topic of a number of other reports. Sanford C. Bernstein decreased their target price on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Leerink Partners reduced their price objective on Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Fifteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $40.60.

Guardant Health Stock Up 7.0 %

GH stock traded up $3.17 on Wednesday, reaching $48.30. 2,173,311 shares of the company’s stock were exchanged, compared to its average volume of 2,479,988. The stock has a fifty day moving average of $34.21 and a 200-day moving average of $29.13. The firm has a market cap of $5.97 billion, a PE ratio of -11.42 and a beta of 1.28. Guardant Health has a twelve month low of $15.81 and a twelve month high of $48.39.

Guardant Health (NASDAQ:GH) last posted its earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The firm had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.73) earnings per share. On average, equities research analysts predict that Guardant Health will post -3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Meghan V. Joyce sold 2,896 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the transaction, the director now directly owns 7,648 shares in the company, valued at $228,675.20. This trade represents a 27.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the transaction, the director now owns 2,676 shares in the company, valued at approximately $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,548 shares of company stock worth $179,782 over the last three months. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Guardant Health

Hedge funds have recently modified their holdings of the stock. JNBA Financial Advisors acquired a new stake in Guardant Health during the 3rd quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in Guardant Health during the 3rd quarter valued at approximately $34,000. Quarry LP acquired a new stake in Guardant Health during the 2nd quarter valued at approximately $44,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Guardant Health during the 2nd quarter valued at approximately $71,000. Finally, Nisa Investment Advisors LLC grew its stake in Guardant Health by 168.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,434 shares of the company’s stock valued at $79,000 after purchasing an additional 2,153 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.