Pictet Asset Management Holding SA Sells 8,906 Shares of Guardant Health, Inc. $GH

Pictet Asset Management Holding SA cut its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 8.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,796 shares of the company’s stock after selling 8,906 shares during the period. Pictet Asset Management Holding SA owned approximately 0.07% of Guardant Health worth $17,038,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. CenterBook Partners LP bought a new position in Guardant Health during the 3rd quarter valued at $585,000. Heritage Family Offices LLP bought a new position in shares of Guardant Health during the 3rd quarter worth approximately $82,000. Kestra Advisory Services LLC bought a new position in shares of Guardant Health in the third quarter valued at approximately $479,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Guardant Health during the third quarter worth $1,345,000. Finally, ProShare Advisors LLC boosted its position in Guardant Health by 6.5% in the third quarter. ProShare Advisors LLC now owns 5,005 shares of the company’s stock worth $893,000 after purchasing an additional 304 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Guardant Health from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Guggenheim boosted their price objective on Guardant Health from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Piper Sandler cut their target price on shares of Guardant Health from $193.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday. Stephens raised their price objective on shares of Guardant Health from $170.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, TD Cowen reissued a “buy” rating on shares of Guardant Health in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.88.

Guardant Health Stock Up 0.1%

Shares of NASDAQ GH opened at $154.86 on Friday. The firm has a market capitalization of $20.95 billion, a P/E ratio of -42.08 and a beta of 1.67. The stock’s 50-day simple moving average is $168.83 and its two-hundred day simple moving average is $132.81. Guardant Health, Inc. has a twelve month low of $74.55 and a twelve month high of $191.05.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.46. The company had revenue of $360.98 million for the quarter, compared to the consensus estimate of $350.72 million. The company’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.74) earnings per share. As a group, research analysts anticipate that Guardant Health, Inc. will post -3.08 EPS for the current fiscal year.

Insider Transactions at Guardant Health

In other news, CEO Amirali Talasaz sold 37,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 37,500 shares in the company, valued at approximately $6,343,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Darya Chudova sold 7,738 shares of Guardant Health stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $178.00, for a total transaction of $1,377,364.00. Following the completion of the transaction, the chief technology officer owned 70,635 shares in the company, valued at approximately $12,573,030. The trade was a 9.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,155 shares of company stock worth $9,107,025 in the last three months. Insiders own 5.60% of the company’s stock.

Guardant Health Profile

Guardant Health is a precision oncology company that develops blood- and tissue-based tests to help guide cancer care. Founded in 2012 by Helmy Eltoukhy and AmirAli Talasaz, the company focuses on using genomic information to support cancer detection, treatment selection and disease monitoring. Its products include Guardant360 tests, which analyze tumor-related genetic changes to help inform treatment decisions, and Guardant Reveal, which is designed to detect residual or recurring cancer after treatment.