Guardant Health, Inc. (NASDAQ:GH) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Guardant Health, Inc. (NASDAQ:GH) have earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $40.31.

Several equities analysts recently weighed in on GH shares. Citigroup increased their price objective on shares of Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Leerink Partners cut their price objective on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Piper Sandler increased their target price on shares of Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. BTIG Research increased their target price on shares of Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Guardant Health from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $20.51 on Friday. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -5.01 and a beta of 1.11. Guardant Health has a 1-year low of $15.81 and a 1-year high of $37.04. The firm’s 50-day moving average price is $23.74 and its two-hundred day moving average price is $25.56.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.10). Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The company had revenue of $177.24 million for the quarter, compared to the consensus estimate of $162.59 million. During the same period last year, the company earned ($0.67) earnings per share. Guardant Health’s revenue for the quarter was up 29.2% compared to the same quarter last year. On average, equities analysts predict that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Institutional Trading of Guardant Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Guardant Health by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock valued at $235,925,000 after purchasing an additional 305,372 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Guardant Health by 0.9% during the first quarter. Baillie Gifford & Co. now owns 6,232,104 shares of the company’s stock worth $128,568,000 after buying an additional 53,292 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Guardant Health by 31.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock worth $36,973,000 after acquiring an additional 309,157 shares in the last quarter. Railway Pension Investments Ltd grew its stake in shares of Guardant Health by 63.8% in the 2nd quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company’s stock worth $17,931,000 after acquiring an additional 241,800 shares in the last quarter. Finally, abrdn plc grew its position in Guardant Health by 47.9% during the third quarter. abrdn plc now owns 552,473 shares of the company’s stock valued at $12,674,000 after buying an additional 178,882 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.