Guggenheim Reaffirms Buy Rating for Guardant Health (NASDAQ:GH)

Guggenheim restated their buy rating on shares of Guardant Health (NASDAQ:GH) in a report released on Monday,Benzinga reports. The firm currently has a $56.00 target price on the stock.

Several other research firms also recently weighed in on GH. Stifel Nicolaus raised their price objective on Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Sanford C. Bernstein cut their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Raymond James reissued an “outperform” rating and issued a $59.00 price objective (up from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their target price on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Barclays started coverage on shares of Guardant Health in a report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price target on the stock. Nineteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $48.21.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $43.19 on Monday. Guardant Health has a one year low of $15.81 and a one year high of $50.89. The firm has a market capitalization of $5.33 billion, a P/E ratio of -12.13 and a beta of 1.32. The company’s fifty day moving average is $40.65 and its two-hundred day moving average is $31.82.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The company had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. On average, sell-side analysts forecast that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In related news, Director Musa Tariq sold 2,320 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the sale, the director now owns 2,676 shares of the company’s stock, valued at $93,660. This represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 2,768 shares of company stock worth $98,798. 5.50% of the stock is owned by company insiders.

Institutional Trading of Guardant Health

A number of institutional investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. raised its position in Guardant Health by 1,902.2% in the fourth quarter. Polar Asset Management Partners Inc. now owns 454,500 shares of the company’s stock worth $13,885,000 after acquiring an additional 431,800 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Guardant Health in the 4th quarter worth approximately $79,000. Twinbeech Capital LP acquired a new stake in Guardant Health during the fourth quarter valued at approximately $367,000. Two Sigma Advisers LP lifted its stake in Guardant Health by 96.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company’s stock valued at $70,742,000 after purchasing an additional 1,138,300 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Guardant Health by 38.5% during the fourth quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company’s stock worth $57,761,000 after buying an additional 525,368 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.