Guardant Health (NASDAQ:GH) Hits New 52-Week High – Here’s What Happened

Guardant Health, Inc. (NASDAQ:GH)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $50.78 and last traded at $49.39, with a volume of 258542 shares changing hands. The stock had previously closed at $47.65.

Analyst Upgrades and Downgrades

GH has been the subject of several recent research reports. Leerink Partners reduced 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. JPMorgan Chase & Co. lifted 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. Guggenheim reiterated a “buy” rating on shares of Guardant Health in a research report on Wednesday, January 22nd. The Goldman Sachs Group lifted their price objective on Guardant Health from $36.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Sanford C. Bernstein dropped their price objective on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Sixteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $42.63.

Guardant Health Stock Up 5.5 %

The company has a 50-day moving average of $36.31 and a 200 day moving average of $29.92. The stock has a market capitalization of $6.21 billion, a PE ratio of -11.85 and a beta of 1.28.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The business had revenue of $191.48 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 33.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.73) earnings per share. As a group, equities analysts predict that Guardant Health, Inc. will post -3.44 EPS for the current fiscal year.

Insider Activity

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction 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 completion of the transaction, the director now directly owns 2,676 shares of the company’s stock, valued at $93,660. The trade was a 46.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meghan V. Joyce sold 2,896 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the sale, the director now owns 7,648 shares in the company, valued at $228,675.20. This trade represents a 27.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,548 shares of company stock worth $179,782 in the last 90 days. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Guardant Health

A number of hedge funds have recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in Guardant Health during the 4th quarter worth approximately $26,000. JNBA Financial Advisors purchased a new stake in Guardant Health during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Guardant Health in the 3rd quarter valued at $34,000. Quarry LP purchased a new stake in shares of Guardant Health in the 2nd quarter valued at $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Guardant Health during the second quarter worth $71,000. 92.60% of the stock is 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.