Guardant Health (NASDAQ:GH) PT Lowered to $28.00 at The Goldman Sachs Group

Guardant Health (NASDAQ:GH) had its price target decreased by research analysts at The Goldman Sachs Group from $32.00 to $28.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 73.27% from the stock’s previous close.

Several other analysts also recently commented on GH. Guggenheim reaffirmed a “neutral” rating on shares of Guardant Health in a report on Friday, April 5th. Canaccord Genuity Group reduced their target price on shares of Guardant Health from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 23rd. JPMorgan Chase & Co. reduced their target price on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Finally, Piper Sandler reduced their target price on shares of Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.40.

Guardant Health Trading Down 5.3 %

Shares of NASDAQ:GH opened at $16.16 on Monday. Guardant Health has a 12 month low of $16.03 and a 12 month high of $41.06. The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. The company’s fifty day simple moving average is $19.57 and its 200 day simple moving average is $23.45. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -3.78 and a beta of 0.87.

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

Insider Activity

In related news, insider Kumud Kalia acquired 2,187 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average cost of $17.82 per share, for a total transaction 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 available through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Guardant Health by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock valued at $301,084,000 after acquiring an additional 180,424 shares during the period. Baillie Gifford & Co. acquired a new position in Guardant Health in the 4th quarter valued at approximately $167,137,000. Capital International Investors increased its position in Guardant Health by 71.0% in the 1st quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock valued at $336,607,000 after acquiring an additional 2,110,240 shares during the period. Alliancebernstein L.P. increased its position in Guardant Health by 35.2% in the 2nd quarter. Alliancebernstein L.P. now owns 4,463,669 shares of the company’s stock valued at $159,799,000 after acquiring an additional 1,161,901 shares during the period. Finally, Eventide Asset Management LLC increased its position in Guardant Health by 113.8% in the 2nd quarter. Eventide Asset Management LLC now owns 4,008,602 shares of the company’s stock valued at $143,508,000 after acquiring an additional 2,133,582 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.