Braidwell LP Sells 61,305,862 Shares of Guardant Health, Inc. $GH

Braidwell LP cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 99.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,850 shares of the company’s stock after selling 61,305,862 shares during the quarter. Braidwell LP owned 0.11% of Guardant Health worth $22,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in Guardant Health by 33.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after purchasing an additional 1,414,441 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Guardant Health by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company’s stock worth $343,348,000 after purchasing an additional 435,232 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Guardant Health by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company’s stock worth $328,297,000 after purchasing an additional 277,001 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Guardant Health by 3.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,441,730 shares of the company’s stock worth $249,398,000 after buying an additional 72,162 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Guardant Health by 14.4% in the fourth quarter. Federated Hermes Inc. now owns 2,031,562 shares of the company’s stock worth $207,504,000 after buying an additional 255,193 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Down 0.8%

Shares of GH stock opened at $163.06 on Thursday. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of -46.72 and a beta of 1.57. The stock has a fifty day moving average of $159.29 and a 200 day moving average of $122.07. Guardant Health, Inc. has a 52 week low of $53.40 and a 52 week high of $176.58.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to analysts’ expectations of $314.23 million. During the same period in the previous year, the firm posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. Equities research analysts anticipate that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Insider Activity at Guardant Health

In related news, CEO Amirali Talasaz sold 143,028 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 1,881,336 shares of the company’s stock, valued at $285,097,657.44. This represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was 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 $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 529,024 shares of company stock valued at $80,000,525 over the last three months. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

GH has been the subject of a number of recent analyst reports. 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. Sanford C. Bernstein raised their price target on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Evercore restated an “outperform” rating and issued a $200.00 price objective on shares of Guardant Health in a research report on Monday, July 6th. Wolfe Research assumed coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on shares of Guardant Health from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $183.78.

Guardant Health 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.