Insider Selling: Guardant Health (NASDAQ:GH) Director Sells 1,000 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) Director Medina Manuel Hidalgo sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $130.06, for a total value of $130,060.00. Following the completion of the transaction, the director directly owned 639 shares in the company, valued at $83,108.34. This trade represents a 61.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Medina Manuel Hidalgo also recently made the following trade(s):

• On Wednesday, May 20th, Medina Manuel Hidalgo sold 1,250 shares of Guardant Health stock. The shares were sold at an average price of $107.09, for a total value of $133,862.50.
• On Friday, March 6th, Medina Manuel Hidalgo sold 1,300 shares of Guardant Health stock. The shares were sold at an average price of $91.54, for a total value of $119,002.00.

Guardant Health Stock Performance

Shares of NASDAQ GH traded down $3.53 during midday trading on Friday, hitting $129.69. 3,513,756 shares of the stock traded hands, compared to its average volume of 2,126,946. The firm has a 50-day moving average of $94.23 and a two-hundred day moving average of $99.73. The firm has a market capitalization of $17.20 billion, a P/E ratio of -38.26 and a beta of 1.48. Guardant Health, Inc. has a one year low of $38.03 and a one year high of $133.97.

Institutional Investors Weigh In On Guardant Health

A number of institutional investors have recently bought and sold shares of GH. Alyeska Investment Group L.P. purchased a new stake in Guardant Health in the 3rd quarter worth $114,421,000. Price T Rowe Associates Inc. MD increased its stake in Guardant Health by 33.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock worth $575,670,000 after buying an additional 1,414,441 shares in the last quarter. Norges Bank purchased a new stake in Guardant Health in the 4th quarter worth $128,499,000. Summit Partners Public Asset Management LLC increased its stake in Guardant Health by 674.5% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after buying an additional 741,958 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Guardant Health by 26.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock worth $182,836,000 after buying an additional 606,368 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

GH has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 20th. Leerink Partners raised their target price on Guardant Health from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Robert W. Baird started coverage on Guardant Health in a report on Tuesday, February 17th. They issued an “outperform” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Evercore set a $110.00 target price on Guardant Health in a report on Friday, February 20th. Nineteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.79.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.