Guardant Health (NASDAQ:GH) Receives “Buy” Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Guardant Health (NASDAQ:GH) in a report issued on Wednesday morning,Benzinga reports.

GH has been the topic of a number of other reports. The Goldman Sachs Group upped their target price on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein lowered their target price on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Leerink Partners cut their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Fifteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $40.60.

Guardant Health Trading Up 4.6 %

Shares of GH opened at $47.20 on Wednesday. Guardant Health has a 12-month low of $15.81 and a 12-month high of $49.86. The stock has a market cap of $5.83 billion, a P/E ratio of -11.13 and a beta of 1.28. The company has a 50-day moving average of $34.53 and a two-hundred day moving average of $29.26.

Guardant Health (NASDAQ:GH) last posted its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The company had revenue of $191.48 million during the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. Guardant Health’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.73) EPS. As a group, analysts forecast that Guardant Health will post -3.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now directly owns 2,676 shares of the company’s stock, valued at $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Meghan V. Joyce sold 2,896 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the sale, the director now directly owns 7,648 shares of the company’s stock, valued at $228,675.20. The trade was a 27.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,548 shares of company stock valued at $179,782. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guardant Health

A number of institutional investors have recently added to or reduced their stakes in GH. Wellington Management Group LLP increased its position in shares of Guardant Health by 188.6% in the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after purchasing an additional 6,618,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Guardant Health by 1,282.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock valued at $28,128,000 after buying an additional 1,137,482 shares during the last quarter. ARK Investment Management LLC raised its stake in Guardant Health by 233.5% during the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after buying an additional 1,059,104 shares in the last quarter. Erste Asset Management GmbH bought a new position in Guardant Health during the 3rd quarter worth approximately $21,389,000. Finally, Lord Abbett & CO. LLC bought a new position in Guardant Health during the 3rd quarter worth approximately $15,624,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Guardant Health

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.