Capital International Investors Reduces Holdings in Guardant Health, Inc. $GH

Capital International Investors reduced its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 24.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,528,656 shares of the company’s stock after selling 1,160,585 shares during the period. Capital International Investors’ holdings in Guardant Health were worth $360,417,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GH. AQR Capital Management LLC increased 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 valued at $3,012,000 after acquiring an additional 25,831 shares in the last quarter. Empowered Funds LLC purchased a new position in Guardant Health during the 1st quarter valued at about $274,000. Sei Investments Co. increased its holdings in Guardant Health by 15.8% during the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after acquiring an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Guardant Health by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock valued at $32,922,000 after acquiring an additional 54,284 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Guardant Health by 56.4% during the 2nd 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. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GH has been the subject of several recent research reports. TD Cowen restated a “buy” rating on shares of Guardant Health in a report on Thursday, May 21st. Stifel Nicolaus raised their target price on shares of Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 20th. Robert W. Baird initiated coverage on shares of Guardant Health in a research note on Tuesday, February 17th. They set an “outperform” rating and a $120.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Guardant Health in a research note on Friday. They set a “buy” rating and a $165.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on shares of Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $137.80.

Guardant Health Stock Performance

GH opened at $125.61 on Monday. The stock has a market capitalization of $16.66 billion, a PE ratio of -37.05 and a beta of 1.61. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $134.28. The company’s 50 day simple moving average is $99.39 and its 200 day simple moving average is $101.12.

Insider Activity

In other Guardant Health news, insider Chris Freeman sold 24,406 shares of Guardant Health stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the transaction, the insider directly owned 60,034 shares of the company’s stock, valued at $7,124,234.78. The trade was a 28.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Meghan V. Joyce sold 10,000 shares of Guardant Health stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $126.98, for a total transaction of $1,269,800.00. Following the transaction, the director directly owned 11,183 shares in the company, valued at approximately $1,420,017.34. This trade represents a 47.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 350,238 shares of company stock valued at $38,538,372 over the last quarter. 5.60% of the stock is owned by insiders.

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.