Guardant Health (NASDAQ:GH) Upgraded at Sanford C. Bernstein

Guardant Health (NASDAQ:GHGet Free Report) was upgraded by stock analysts at Sanford C. Bernstein to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

GH has been the subject of several other research reports. JPMorgan Chase & Co. lifted their target price on shares of Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Mizuho increased their price target on shares of Guardant Health from $135.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 8th. BTIG Research set a $160.00 price target on shares of Guardant Health and gave the company a “buy” rating in a report on Wednesday, May 27th. TD Cowen restated a “buy” rating on shares of Guardant Health in a research report on Thursday, May 21st. Finally, Royal Bank Of Canada initiated coverage on Guardant Health in a report on Thursday, June 11th. They set an “outperform” rating and a $185.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $143.68.

Get Our Latest Analysis on Guardant Health

Guardant Health Price Performance

NASDAQ:GH opened at $149.22 on Thursday. The company has a market cap of $19.79 billion, a P/E ratio of -44.02 and a beta of 1.61. The firm’s fifty day moving average price is $112.62 and its two-hundred day moving average price is $104.02. Guardant Health has a one year low of $40.35 and a one year high of $151.85.

Insider Buying and Selling

In related news, Director Musa Tariq sold 1,951 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $255,893.16. Following the transaction, the director directly owned 11,048 shares of the company’s stock, valued at approximately $1,449,055.68. This trade represents a 15.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the transaction, the chief executive officer directly owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 452,513 shares of company stock valued at $51,608,916 in the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GH. Alyeska Investment Group L.P. bought a new position in shares of Guardant Health during the third quarter worth approximately $114,421,000. Price T Rowe Associates Inc. MD raised its position in shares of Guardant Health by 33.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after buying an additional 1,414,441 shares in the last quarter. Norges Bank bought a new stake in shares of Guardant Health in the fourth quarter valued at approximately $128,499,000. Summit Partners Public Asset Management LLC boosted its stake in shares of Guardant Health by 674.5% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock valued at $87,019,000 after buying an additional 741,958 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Guardant Health by 26.1% in the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock valued at $182,836,000 after buying an additional 606,368 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Company Profile

(Get Free Report)

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

Further Reading

Analyst Recommendations for Guardant Health (NASDAQ:GH)

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