MSH Capital Advisors LLC purchased a new stake in Guardant Health, Inc. (NASDAQ:GH – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,242 shares of the company’s stock, valued at approximately $936,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Elyxium Wealth LLC purchased a new stake in shares of Guardant Health in the 4th quarter worth about $35,000. Parallel Advisors LLC increased its holdings in Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 219 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Guardant Health during the 2nd quarter valued at about $59,000. EFG International AG acquired a new position in Guardant Health during the fourth quarter worth about $41,000. Finally, Ascentis Independent Advisors acquired a new position in Guardant Health during the first quarter worth about $38,000. Institutional investors and hedge funds own 92.60% of the company’s stock.
Insider Buying and Selling at Guardant Health
In related news, CEO Amirali Talasaz sold 143,028 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 1,881,336 shares of the company’s stock, valued at approximately $285,097,657.44. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the completion of the sale, the chief executive officer owned 2,012,919 shares of the company’s stock, valued at approximately $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 546,224 shares of company stock worth $80,435,493. 5.60% of the stock is currently owned by insiders.
Guardant Health Stock Up 2.0%
Guardant Health (NASDAQ:GH – Get Free Report) last released 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 business had revenue of $334.98 million for the quarter, compared to analysts’ expectations of $314.23 million. During the same quarter last year, the company posted ($0.44) earnings per share. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. Sell-side analysts expect that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have recently commented on GH shares. Mizuho increased their price target on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Evercore restated an “outperform” rating and set a $200.00 price objective on shares of Guardant Health in a research report on Monday, July 6th. Guggenheim upped their target price on Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. UBS Group set a $150.00 target price on Guardant Health in a report on Wednesday, June 24th. Finally, Morgan Stanley raised their price target on Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.78.
View Our Latest Research Report on GH
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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