Insider Selling: Guardant Health, Inc. (NASDAQ:GH) Director Sells 2,626 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) Director Myrtle S. Potter sold 2,626 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $49.70, for a total value of $130,512.20. Following the completion of the transaction, the director now directly owns 18,180 shares of the company’s stock, valued at $903,546. This trade represents a 12.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Guardant Health Trading Up 0.5%

NASDAQ:GH opened at $49.53 on Wednesday. Guardant Health, Inc. has a 12-month low of $20.14 and a 12-month high of $52.92. The stock’s 50 day simple moving average is $44.02 and its 200-day simple moving average is $41.80. The firm has a market cap of $6.14 billion, a P/E ratio of -14.61 and a beta of 1.37.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.08. The firm had revenue of $203.47 million for the quarter, compared to analyst estimates of $189.91 million. Guardant Health had a negative net margin of 53.82% and a negative return on equity of 1,200.44%. Guardant Health’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.46) EPS. Research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Analysts Set New Price Targets

GH has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and set a $60.00 price objective (up previously from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. The Goldman Sachs Group boosted their price target on shares of Guardant Health from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, February 21st. TD Securities upped their price objective 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. Morgan Stanley raised their price objective on Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their target price on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Twenty-one investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $53.76.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GH. SVB Wealth LLC acquired a new stake in Guardant Health in the first quarter valued at $54,000. SBI Securities Co. Ltd. purchased a new stake in Guardant Health during the fourth quarter worth about $43,000. Kimelman & Baird LLC acquired a new position in Guardant Health during the fourth quarter worth about $58,000. NewEdge Advisors LLC lifted its position in shares of Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after acquiring an additional 230 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health during the 4th quarter worth approximately $61,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.