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

Guggenheim reissued their buy rating on shares of Guardant Health (NASDAQ:GH) in a report issued on Wednesday morning,Benzinga reports.

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

Guardant Health Stock Performance

NASDAQ GH opened at $47.21 on Wednesday. Guardant Health has a one year low of $15.81 and a one year high of $49.86. The stock has a 50-day moving average of $35.26 and a 200 day moving average of $29.53. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of -11.13 and a beta of 1.28.

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

Insider Transactions at Guardant Health

In related news, Director Musa Tariq sold 2,320 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now directly owns 2,676 shares of the company’s stock, valued at approximately $93,660. The trade was a 46.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meghan V. Joyce sold 2,896 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction 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 trade represents a 27.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,548 shares of company stock valued at $179,782 over the last three months. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Guardant Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings 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 valued at $232,325,000 after purchasing an additional 6,618,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Guardant Health by 1,282.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock worth $28,128,000 after buying an additional 1,137,482 shares in the last quarter. ARK Investment Management LLC boosted its stake in Guardant Health by 233.5% during the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after buying an additional 1,059,104 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Guardant Health during the 3rd quarter valued at approximately $21,389,000. Finally, Lord Abbett & CO. LLC bought a new stake in Guardant Health in the 3rd quarter worth approximately $15,624,000. 92.60% of the stock is currently owned by 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.