M&T Bank Corp lifted its position in Guardant Health, Inc. (NASDAQ:GH) by 30.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,861 shares of the company’s stock after acquiring an additional 1,376 shares during the quarter. M&T Bank Corp’s holdings in Guardant Health were worth $656,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in GH. CSat Investment Advisory L.P. bought a new stake in shares of Guardant Health in the 2nd quarter worth about $25,000. Nachman Norwood & Parrott Inc bought a new stake in shares of Guardant Health in the 3rd quarter worth about $26,000. Huntington National Bank bought a new stake in shares of Guardant Health in the 3rd quarter worth about $28,000. San Francisco Sentry Investment Group CA lifted its holdings in shares of Guardant Health by 98.5% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 266 shares of the company’s stock worth $30,000 after acquiring an additional 132 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of Guardant Health in the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 84.23% of the company’s stock.
NASDAQ GH opened at $112.95 on Friday. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of -59.14 and a beta of 0.56. The company’s 50-day simple moving average is $108.29 and its two-hundred day simple moving average is $93.78. Guardant Health, Inc. has a one year low of $55.90 and a one year high of $122.31.
Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, November 5th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.44). The business had revenue of $74.66 million for the quarter, compared to analysts’ expectations of $65.99 million. Guardant Health had a negative net margin of 45.53% and a negative return on equity of 13.35%. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period last year, the business posted ($0.14) EPS. As a group, equities research analysts expect that Guardant Health, Inc. will post -1.5 earnings per share for the current year.
In other news, COO Amirali Talasaz sold 75,000 shares of Guardant Health stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $110.71, for a total value of $8,303,250.00. Following the transaction, the chief operating officer now owns 2,570,412 shares of the company’s stock, valued at approximately $284,570,312.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stanley J. Meresman sold 5,000 shares of Guardant Health stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $110.30, for a total transaction of $551,500.00. Following the completion of the transaction, the director now directly owns 9,059 shares in the company, valued at approximately $999,207.70. The disclosure for this sale can be found here. Insiders have sold a total of 7,565,774 shares of company stock worth $765,445,454 in the last three months. Insiders own 13.00% of the company’s stock.
A number of equities research analysts recently weighed in on GH shares. JPMorgan Chase & Co. lifted their price objective on shares of Guardant Health from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Morgan Stanley lifted their price objective on shares of Guardant Health from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, November 9th. BidaskClub upgraded shares of Guardant Health from a “hold” rating to a “buy” rating in a report on Sunday, November 8th. William Blair reiterated an “outperform” rating on shares of Guardant Health in a report on Thursday, November 12th. Finally, Zacks Investment Research lowered shares of Guardant Health from a “buy” rating to a “hold” rating in a report on Friday, November 6th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $119.38.
Guardant Health Company Profile
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.
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