Guardant Health, Inc. $GH Position Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in Guardant Health, Inc. (NASDAQ:GH) by 40.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,622 shares of the company’s stock after acquiring an additional 11,125 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Guardant Health were worth $2,010,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock worth $33,000 after purchasing an additional 213 shares in the last quarter. IFP Advisors Inc grew its position in Guardant Health by 120.1% in the 2nd quarter. IFP Advisors Inc now owns 612 shares of the company’s stock valued at $33,000 after buying an additional 334 shares in the last quarter. SVB Wealth LLC acquired a new position in Guardant Health during the 1st quarter valued at about $54,000. FNY Investment Advisers LLC acquired a new position in Guardant Health during the 2nd quarter valued at about $62,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Guardant Health during the 1st quarter worth about $97,000. Institutional investors own 92.60% of the company’s stock.

Insiders Place Their Bets

In other Guardant Health news, CEO Helmy Eltoukhy sold 300,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the completion of the sale, the chief executive officer directly owned 2,123,499 shares of the company’s stock, valued at approximately $126,242,015.55. This represents a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Medina Manuel Hidalgo sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $95.19, for a total transaction of $142,785.00. Following the completion of the transaction, the director owned 815 shares of the company’s stock, valued at approximately $77,579.85. The trade was a 64.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 313,045 shares of company stock worth $18,984,897. Company insiders own 6.10% of the company’s stock.

Guardant Health Stock Performance

Shares of NASDAQ:GH opened at $95.57 on Wednesday. The company has a market capitalization of $12.05 billion, a PE ratio of -29.77 and a beta of 1.56. The stock has a fifty day moving average of $72.20 and a 200-day moving average of $57.49. Guardant Health, Inc. has a one year low of $28.45 and a one year high of $101.57.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.09. During the same period last year, the firm earned ($0.88) earnings per share. The company’s revenue was up 38.5% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GH. Scotiabank increased their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the company a “sector outperform” rating in a report on Thursday, July 31st. Guggenheim increased their price target on Guardant Health from $56.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Wells Fargo & Company assumed coverage on Guardant Health in a research note on Monday, September 22nd. They issued an “overweight” rating and a $72.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Guardant Health in a research note on Thursday, September 25th. Finally, Cowen reaffirmed a “buy” rating on shares of Guardant Health in a research note on Thursday, October 30th. Twenty-three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Guardant Health presently has an average rating of “Moderate Buy” and an average target price of $77.14.

About Guardant Health

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.