Guardant Health (GH) Reaches New 1-Year High on Better-Than-Expected Earnings

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Guardant Health Inc (NASDAQ:GH) shares hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $74.82 and last traded at $74.00, with a volume of 973532 shares. The stock had previously closed at $66.82.

The company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.05. The company had revenue of $32.87 million during the quarter, compared to analyst estimates of $24.57 million.

Several equities analysts recently commented on the company. Bank of America reiterated a “neutral” rating and issued a $60.00 target price (up from $42.00) on shares of Guardant Health in a research note on Thursday, February 28th. JPMorgan Chase & Co. upped their target price on Guardant Health from $42.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of Guardant Health in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $72.50.

In other Guardant Health news, major shareholder Vision Fund (Aiv M1) Softbank bought 2,033,990 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was purchased at an average cost of $9.83 per share, for a total transaction of $19,994,121.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Large investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. acquired a new stake in Guardant Health during the fourth quarter worth about $26,000. Legal & General Group Plc purchased a new stake in shares of Guardant Health in the fourth quarter worth about $85,000. Citigroup Inc. purchased a new stake in shares of Guardant Health in the fourth quarter worth about $94,000. Victory Capital Management Inc. purchased a new stake in shares of Guardant Health in the fourth quarter worth about $124,000. Finally, Pendal Group Ltd purchased a new stake in shares of Guardant Health in the fourth quarter worth about $213,000. Institutional investors own 69.54% of the company’s stock.

The stock has a market capitalization of $6.35 billion and a price-to-earnings ratio of -34.83.

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Guardant Health Company Profile (NASDAQ:GH)

Guardant Health, Inc, a precision oncology company, provides non-invasive cancer diagnostics. It offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes from circulating tumor DNA (ctDNA); and GuardantOMNI, a broader panel measuring various genes from ctDNA.

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