Brokerages Set Guardant Health, Inc. (NASDAQ:GH) Target Price at $37.70

Guardant Health, Inc. (NASDAQ:GH) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $37.70.

GH has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Piper Sandler dropped their price objective on Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. Canaccord Genuity Group reduced their target price on Guardant Health from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, April 29th. The Goldman Sachs Group dropped their price target on shares of Guardant Health from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Finally, Guggenheim restated a “neutral” rating on shares of Guardant Health in a research report on Friday, April 5th.

Insider Transactions at Guardant Health

In other Guardant Health news, insider Kumud Kalia purchased 2,187 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $17.82 per share, with a total value of $38,972.34. Following the completion of the purchase, the insider now owns 12,722 shares in the company, valued at approximately $226,706.04. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. acquired a new position in Guardant Health in the fourth quarter valued at approximately $167,137,000. Capital International Investors lifted its stake in shares of Guardant Health by 36.7% in the 4th quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock valued at $108,249,000 after purchasing an additional 1,074,452 shares during the last quarter. Norges Bank purchased a new position in shares of Guardant Health during the 4th quarter worth $25,520,000. Cadian Capital Management LP acquired a new stake in shares of Guardant Health during the 4th quarter worth about $19,206,000. Finally, Jennison Associates LLC raised its holdings in Guardant Health by 27.1% in the 3rd quarter. Jennison Associates LLC now owns 1,890,884 shares of the company’s stock valued at $56,046,000 after buying an additional 403,475 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Trading Down 1.5 %

Shares of NASDAQ:GH opened at $18.82 on Friday. The company has a market capitalization of $2.29 billion, a PE ratio of -4.40 and a beta of 0.92. Guardant Health has a 12-month low of $15.81 and a 12-month high of $41.06. The business has a 50 day moving average of $18.35 and a two-hundred day moving average of $22.40. The company has a current ratio of 6.54, a quick ratio of 6.24 and a debt-to-equity ratio of 7.18.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.65). The firm had revenue of $155.05 million during the quarter, compared to analyst estimates of $151.71 million. Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. As a group, analysts forecast that Guardant Health will post -3.49 EPS for the current year.

Guardant Health Company Profile

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.