Adalta Capital Management LLC Decreases Stake in Guardant Health, Inc. (NASDAQ:GH)

Adalta Capital Management LLC trimmed its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 68,263 shares of the company’s stock after selling 2,700 shares during the quarter. Guardant Health comprises approximately 1.1% of Adalta Capital Management LLC’s holdings, making the stock its 21st largest holding. Adalta Capital Management LLC’s holdings in Guardant Health were worth $2,085,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GH. R Squared Ltd acquired a new stake in Guardant Health during the fourth quarter worth $26,000. SBI Securities Co. Ltd. acquired a new stake in Guardant Health in the fourth quarter valued at approximately $43,000. Kimelman & Baird LLC purchased a new stake in shares of Guardant Health during the 4th quarter worth approximately $58,000. NewEdge Advisors LLC lifted its holdings in shares of Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after purchasing an additional 230 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Guardant Health during the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 106,784 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $49.01, for a total value of $5,233,483.84. Following the sale, the chief executive officer now directly owns 2,202,672 shares in the company, valued at $107,952,954.72. This trade represents a 4.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 107,248 shares of company stock worth $5,254,000. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of Guardant Health in a research note on Monday, May 5th. TD Securities upped their target price on shares of Guardant Health from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. UBS Group raised their target price on shares of Guardant Health from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group raised their target price on Guardant Health from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Twenty-one research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Guardant Health has a consensus rating of “Buy” and a consensus target price of $52.32.

Guardant Health Price Performance

NASDAQ:GH opened at $39.97 on Wednesday. The stock has a market cap of $4.95 billion, a PE ratio of -11.23 and a beta of 1.49. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $52.92. The stock’s 50-day moving average is $43.74 and its two-hundred day moving average is $39.88.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.08. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The company had revenue of $203.47 million during the quarter, compared to the consensus estimate of $189.91 million. During the same quarter in the prior year, the company posted ($0.46) EPS. The firm’s revenue was up 20.8% on a year-over-year basis. On average, equities research analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

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.