Guardant Health, Inc. (NASDAQ:GH) Stake Trimmed by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. cut its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 38.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,378 shares of the company’s stock after selling 9,028 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Guardant Health were worth $415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GH. Vanguard Group Inc. boosted its position in Guardant Health by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock worth $235,925,000 after acquiring an additional 305,372 shares during the period. Baillie Gifford & Co. raised its stake in shares of Guardant Health by 0.9% during the 1st quarter. Baillie Gifford & Co. now owns 6,232,104 shares of the company’s stock worth $128,568,000 after purchasing an additional 53,292 shares in the last quarter. Capital International Investors lifted its holdings in shares of Guardant Health by 36.7% during the 4th quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock valued at $108,249,000 after buying an additional 1,074,452 shares during the last quarter. Eventide Asset Management LLC increased its holdings in Guardant Health by 8.3% in the fourth quarter. Eventide Asset Management LLC now owns 3,888,146 shares of the company’s stock worth $105,174,000 after buying an additional 298,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Guardant Health by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,232,117 shares of the company’s stock valued at $33,329,000 after acquiring an additional 20,618 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GH has been the topic of several recent research reports. TD Cowen raised their target price on Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 8th. BTIG Research boosted their target price on Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Guggenheim upgraded Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Friday, June 28th. Bank of America boosted their price objective on shares of Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Citigroup raised their target price on shares of Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and an average price target of $39.27.

Guardant Health Price Performance

Guardant Health stock traded down $1.02 during trading hours on Tuesday, hitting $27.36. 365,459 shares of the stock were exchanged, compared to its average volume of 2,053,047. The business’s 50-day moving average is $30.62 and its two-hundred day moving average is $24.27. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.66 and a current ratio of 5.95. Guardant Health, Inc. has a 12 month low of $15.81 and a 12 month high of $41.06. The stock has a market capitalization of $3.35 billion, a P/E ratio of -7.24 and a beta of 1.13.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative net margin of 76.34% and a negative return on equity of 246.47%. The company had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. During the same period in the prior year, the business earned ($0.67) EPS. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. Equities research analysts expect that Guardant Health, Inc. will post -3.31 EPS for the current fiscal year.

Guardant Health 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.