Canton Hathaway LLC Boosts Stake in Guardant Health, Inc. $GH

Canton Hathaway LLC boosted its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,870 shares of the company’s stock after buying an additional 590 shares during the period. Canton Hathaway LLC’s holdings in Guardant Health were worth $462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of Guardant Health during the 1st quarter valued at $232,000. Intech Investment Management LLC lifted its holdings in shares of Guardant Health by 37.3% during the 1st quarter. Intech Investment Management LLC now owns 60,187 shares of the company’s stock valued at $2,564,000 after purchasing an additional 16,363 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Guardant Health during the 1st quarter valued at $866,000. Osterweis Capital Management Inc. purchased a new stake in shares of Guardant Health during the 1st quarter valued at $12,634,000. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of Guardant Health during the 2nd quarter valued at $289,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Activity

In related news, Director Medina Manuel Hidalgo sold 2,165 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $54.16, for a total transaction of $117,256.40. Following the sale, the director directly owned 851 shares of the company’s stock, valued at approximately $46,090.16. This represents a 71.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Helmy Eltoukhy sold 300,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the sale, the chief executive officer directly owned 2,123,499 shares in the company, valued at $126,242,015.55. This trade represents a 12.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 302,691 shares of company stock worth $17,984,628 over the last ninety days. 6.10% of the stock is owned by insiders.

Guardant Health Stock Performance

Shares of GH opened at $92.41 on Friday. The business’s 50-day moving average is $63.60 and its two-hundred day moving average is $52.81. The company has a market capitalization of $11.52 billion, a P/E ratio of -28.79 and a beta of 1.53. Guardant Health, Inc. has a fifty-two week low of $21.85 and a fifty-two week high of $95.88.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.26). The business had revenue of $265.20 million during the quarter, compared to the consensus estimate of $235.72 million. The business’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.88) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. Analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Scotiabank increased their price objective on Guardant Health from $57.00 to $60.00 and gave the company a “sector outperform” rating in a report on Thursday, July 31st. Piper Sandler upped their price target on shares of Guardant Health from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Wolfe Research upgraded Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Thursday, September 25th. Guggenheim raised their target price on Guardant Health from $56.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Finally, Mizuho set a $100.00 target price on Guardant Health in a research note on Thursday. Twenty-three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.14.

Guardant Health 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.