Barclays Begins Coverage on Guardant Health (NASDAQ:GH)

Stock analysts at Barclays started coverage on shares of Guardant Health (NASDAQ:GH) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $60.00 price target on the stock. Barclays‘s price target suggests a potential upside of 27.12% from the stock’s current price.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Sanford C. Bernstein cut their price objective on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating on shares of Guardant Health in a research note on Wednesday. Leerink Partners dropped their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their price target on Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Guardant Health currently has a consensus rating of “Buy” and an average target price of $41.81.

Guardant Health Stock Up 4.6 %

Shares of Guardant Health stock opened at $47.20 on Thursday. The firm has a market cap of $5.83 billion, a PE ratio of -11.13 and a beta of 1.28. Guardant Health has a twelve month low of $15.81 and a twelve month high of $49.86. The business has a 50-day moving average price of $34.53 and a 200 day moving average price of $29.26.

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

Insider Buying and Selling at Guardant Health

In related news, 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 transaction of $81,200.00. Following the transaction, the director now owns 2,676 shares of the company’s stock, valued at $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Meghan V. Joyce sold 2,896 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the sale, the director now directly owns 7,648 shares of the company’s stock, valued at approximately $228,675.20. This represents a 27.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,548 shares of company stock valued at $179,782. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently bought and sold shares of GH. Wellington Management Group LLP raised its stake in shares of Guardant Health by 188.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after buying an additional 6,618,785 shares in the last quarter. Eventide Asset Management LLC grew its holdings in Guardant Health by 2.0% during the third quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock worth $88,028,000 after acquiring an additional 76,762 shares during the period. Geode Capital Management LLC raised its position in Guardant Health by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after acquiring an additional 29,686 shares in the last quarter. ARK Investment Management LLC lifted its holdings in Guardant Health by 233.5% in the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after acquiring an additional 1,059,104 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Guardant Health by 1,282.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock worth $28,128,000 after purchasing an additional 1,137,482 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

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.