Guardant Health (NASDAQ:GH) Price Target Cut to $30.00 by Analysts at Canaccord Genuity Group

Guardant Health (NASDAQ:GH) had its price target reduced by Canaccord Genuity Group from $45.00 to $30.00 in a research report report published on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other brokerages have also recently commented on GH. Craig Hallum started coverage on Guardant Health in a research report on Wednesday, April 24th. They issued a buy rating and a $28.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on Guardant Health from $60.00 to $45.00 and set an overweight rating on the stock in a research report on Friday, February 23rd. Piper Sandler decreased their target price on Guardant Health from $40.00 to $30.00 and set an overweight rating on the stock in a research report on Monday, February 26th. Guggenheim reiterated a neutral rating on shares of Guardant Health in a research report on Friday, April 5th. Finally, The Goldman Sachs Group decreased their target price on Guardant Health from $32.00 to $28.00 and set a buy rating on the stock in a research report on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $37.91.

Guardant Health Stock Up 4.8 %

GH opened at $18.19 on Monday. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $41.06. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. The company has a market capitalization of $2.21 billion, a P/E ratio of -4.25 and a beta of 0.87. The stock has a fifty day moving average of $18.74 and a 200-day moving average of $22.80.

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

Insider Transactions at Guardant Health

In other news, insider Kumud Kalia purchased 2,187 shares of Guardant Health stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $17.82 per share, for a total transaction of $38,972.34. Following the completion of the acquisition, the insider now owns 12,722 shares in the company, valued at approximately $226,706.04. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its stake in Guardant Health by 137.1% in the third quarter. CWM LLC now owns 984 shares of the company’s stock valued at $29,000 after buying an additional 569 shares during the period. BluePath Capital Management LLC acquired a new position in shares of Guardant Health during the third quarter worth approximately $35,000. Headlands Technologies LLC grew its holdings in Guardant Health by 362.3% during the fourth quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock worth $64,000 after buying an additional 1,844 shares in the last quarter. Van ECK Associates Corp grew its holdings in Guardant Health by 29.4% during the fourth quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock worth $73,000 after buying an additional 614 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Guardant Health by 26.1% during the third quarter. Nisa Investment Advisors LLC now owns 3,450 shares of the company’s stock worth $102,000 after buying an additional 713 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

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.