Guardant Health (NASDAQ:GH) Shares Gap Down to $26.79

Guardant Health, Inc. (NASDAQ:GH)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $26.79, but opened at $23.08. Guardant Health shares last traded at $24.11, with a volume of 992,989 shares.

Analyst Ratings Changes

GH has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price objective on shares of Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Canaccord Genuity Group boosted their price target on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Bank of America raised their price objective on Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Jefferies Financial Group initiated coverage on Guardant Health in a report on Monday, June 3rd. They set a “buy” rating and a $32.00 target price on the stock. Finally, Piper Sandler raised their price target on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and a consensus target price of $39.31.

Guardant Health Price Performance

The business has a fifty day moving average of $29.20 and a two-hundred day moving average of $24.88. The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -6.15 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The company had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. Guardant Health’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.67) earnings per share. As a group, research analysts predict that Guardant Health, Inc. will post -3.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Guardant Health by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 13,045 shares of the company’s stock valued at $353,000 after acquiring an additional 1,240 shares during the period. Oak Ridge Investments LLC boosted its holdings in Guardant Health by 8.5% in the 1st quarter. Oak Ridge Investments LLC now owns 18,540 shares of the company’s stock valued at $382,000 after purchasing an additional 1,451 shares during the period. Quarry LP acquired a new position in shares of Guardant Health during the 2nd quarter worth approximately $44,000. Ensign Peak Advisors Inc increased its holdings in shares of Guardant Health by 4.5% during the second quarter. Ensign Peak Advisors Inc now owns 41,450 shares of the company’s stock worth $1,197,000 after purchasing an additional 1,800 shares during the period. Finally, Canton Hathaway LLC acquired a new stake in shares of Guardant Health in the second quarter valued at approximately $59,000. Institutional investors own 92.60% of the company’s stock.

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.