Rothschild & Co Redburn upgraded shares of Guardant Health (NASDAQ:GH – Free Report) to a strong-buy rating in a research note released on Tuesday,Zacks reports.
Several other analysts also recently commented on the stock. Evercore reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Guardant Health in a report on Monday, July 6th. Stifel Nicolaus boosted their target price on shares of Guardant Health from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Canaccord Genuity Group upped their price target on shares of Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Royal Bank Of Canada upped their price target on shares of Guardant Health from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price target on shares of Guardant Health in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $184.58.
View Our Latest Stock Analysis on Guardant Health
Guardant Health Stock Down 0.3%
Guardant Health (NASDAQ:GH – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to analysts’ expectations of $314.23 million. During the same quarter in the prior year, the company earned ($0.44) EPS. Guardant Health’s quarterly revenue was up 44.3% on a year-over-year basis. As a group, equities analysts anticipate that Guardant Health will post -2.98 EPS for the current fiscal year.
Insider Buying and Selling at Guardant Health
In related news, CEO Amirali Talasaz sold 37,500 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $169.16, for a total value of $6,343,500.00. Following the completion of the transaction, the chief executive officer directly owned 37,500 shares in the company, valued at $6,343,500. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Medina Hidalgo sold 1,700 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $164.24, for a total transaction of $279,208.00. Following the sale, the director directly owned 4,556 shares in the company, valued at $748,277.44. This trade represents a 27.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 427,024 shares of company stock worth $67,113,285. 5.60% of the stock is currently owned by insiders.
Institutional Trading of Guardant Health
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GH. California State Teachers Retirement System raised its position in shares of Guardant Health by 16,079.2% in the second quarter. California State Teachers Retirement System now owns 21,129,925 shares of the company’s stock worth $3,170,123,000 after acquiring an additional 20,999,326 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Guardant Health during the 3rd quarter valued at about $114,421,000. Price T Rowe Associates Inc. MD grew its position in shares of Guardant Health by 33.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after acquiring an additional 1,414,441 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Guardant Health during the 2nd quarter valued at about $208,592,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Guardant Health in the 2nd quarter valued at about $196,737,000. Institutional investors and hedge funds own 92.60% of the company’s stock.
About Guardant Health
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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