Guardant Health (NASDAQ:GH) Now Covered by Craig Hallum

Craig Hallum started coverage on shares of Guardant Health (NASDAQ:GH) in a report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $28.00 target price on the stock.

GH has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their price objective on shares of Guardant Health from $60.00 to $45.00 and set an overweight rating for the company in a research note on Friday, February 23rd. Guggenheim reissued a neutral rating on shares of Guardant Health in a research note on Friday, April 5th. The Goldman Sachs Group dropped their price objective on shares of Guardant Health from $32.00 to $28.00 and set a buy rating for the company in a research note on Monday, April 15th. Canaccord Genuity Group dropped their price target on shares of Guardant Health from $50.00 to $45.00 and set a buy rating for the company in a research note on Friday, February 23rd. Finally, Piper Sandler dropped their price target on shares of Guardant Health from $40.00 to $30.00 and set an overweight rating for the company in a research note on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Guardant Health presently has an average rating of Moderate Buy and an average price target of $39.27.

Guardant Health Stock Up 4.4 %

Shares of NASDAQ GH opened at $18.10 on Wednesday. The company has a current ratio of 6.54, a quick ratio of 6.24 and a debt-to-equity ratio of 7.18. The firm’s fifty day moving average is $19.02 and its two-hundred day moving average is $23.03. Guardant Health has a 52-week low of $15.81 and a 52-week high of $41.06.

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

Insider Buying and Selling at Guardant Health

In related news, insider Kumud Kalia acquired 2,187 shares of the stock in a transaction on Monday, March 18th. The stock was bought at an average cost of $17.82 per share, with a total value of $38,972.34. Following the transaction, the insider now directly owns 12,722 shares in the company, valued at $226,706.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Guardant Health

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

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.