Shares of Guardant Health, Inc. (NASDAQ:GH – Get Free Report) have received a consensus rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, twenty-three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $183.7826.
A number of research firms recently weighed in on GH. Guggenheim increased their price objective on shares of Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. BTIG Research reissued a “buy” rating and issued a $195.00 target price on shares of Guardant Health in a research report on Wednesday, September 2nd. UBS Group set a $150.00 price target on Guardant Health in a research note on Wednesday, June 24th. TD Cowen restated a “buy” rating on shares of Guardant Health in a research report on Tuesday, August 25th. Finally, Wolfe Research began coverage on Guardant Health in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 price objective for the company.
Guardant Health Price Performance
Guardant Health (NASDAQ:GH – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to analysts’ expectations of $314.23 million. The company’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period last year, the business earned ($0.44) EPS. As a group, analysts anticipate that Guardant Health will post -2.98 EPS for the current year.
Insider Activity
In related news, insider Terilyn Monroe sold 46,300 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the completion of the transaction, the insider directly owned 22,979 shares in the company, valued at $3,794,292.48. This trade represents a 66.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amirali Talasaz sold 143,028 shares of Guardant Health stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $151.54, for a total value of $21,674,463.12. Following the completion of the transaction, the chief executive officer directly owned 1,881,336 shares of the company’s stock, valued at approximately $285,097,657.44. This represents a 7.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 427,024 shares of company stock worth $67,113,285 in the last quarter. Insiders own 5.60% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in GH. AQR Capital Management LLC lifted its holdings in Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after buying an additional 25,831 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Guardant Health during the first quarter worth $274,000. Sei Investments Co. increased its position in shares of Guardant Health by 15.8% during the second quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock worth $4,023,000 after acquiring an additional 10,538 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Guardant Health by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock worth $32,922,000 after acquiring an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Guardant Health by 56.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock valued at $5,800,000 after acquiring an additional 40,209 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.
Guardant Health Company Profile
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.
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