Guardant Health (NASDAQ:GH) CFO Sells $8,288,536.68 in Stock

Guardant Health, Inc. (NASDAQ:GH) CFO Michael Brian Bell sold 80,362 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $103.14, for a total value of $8,288,536.68. Following the sale, the chief financial officer owned 28,052 shares in the company, valued at approximately $2,893,283.28. The trade was a 74.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Guardant Health Price Performance

GH traded up $2.15 during trading hours on Monday, reaching $104.17. 1,867,755 shares of the stock traded hands, compared to its average volume of 2,302,517. Guardant Health, Inc. has a fifty-two week low of $29.91 and a fifty-two week high of $112.43. The company has a market cap of $13.13 billion, a price-to-earnings ratio of -32.45 and a beta of 1.58. The firm’s fifty day simple moving average is $85.51 and its two-hundred day simple moving average is $63.90.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. Guardant Health’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.88) earnings per share. On average, research analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Institutional Investors Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in shares of Guardant Health by 50.5% during the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock worth $33,000 after purchasing an additional 213 shares during the period. IFP Advisors Inc boosted its position in shares of 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 purchasing an additional 334 shares during the period. Allworth Financial LP increased its stake in Guardant Health by 358.4% in the 2nd quarter. Allworth Financial LP now owns 706 shares of the company’s stock worth $37,000 after purchasing an additional 552 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Guardant Health in the 3rd quarter worth about $38,000. Finally, Optiver Holding B.V. raised its holdings in Guardant Health by 153.5% during the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock worth $48,000 after buying an additional 465 shares during the period. Institutional investors own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Guardant Health from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Wolfe Research raised shares of Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. raised their price target on shares of Guardant Health from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Morgan Stanley lifted their price target on Guardant Health from $105.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, December 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a report on Wednesday, October 8th. Twenty-three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.86.

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.