Oak Ridge Investments LLC Decreases Stake in Guardant Health, Inc. (NASDAQ:GH)

Oak Ridge Investments LLC lowered its holdings in Guardant Health, Inc. (NASDAQ:GH) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,331 shares of the company’s stock after selling 1,221 shares during the quarter. Oak Ridge Investments LLC’s holdings in Guardant Health were worth $438,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC purchased a new position in Guardant Health in the 4th quarter valued at approximately $252,000. Fiduciary Alliance LLC grew its holdings in Guardant Health by 7.6% in the fourth quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock valued at $363,000 after purchasing an additional 836 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Guardant Health in the third quarter valued at $15,624,000. Exome Asset Management LLC raised its stake in shares of Guardant Health by 13.7% during the 3rd quarter. Exome Asset Management LLC now owns 89,800 shares of the company’s stock worth $2,060,000 after buying an additional 10,800 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Guardant Health by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after buying an additional 29,686 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Stock Down 1.7 %

NASDAQ:GH opened at $36.66 on Monday. Guardant Health, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $39.29. The firm’s 50 day moving average is $33.76 and its two-hundred day moving average is $28.96. The company has a market cap of $4.53 billion, a P/E ratio of -8.65 and a beta of 1.28.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The firm had revenue of $191.48 million during the quarter, compared to analyst estimates of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. Guardant Health’s revenue was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.73) EPS. Research analysts forecast that Guardant Health, Inc. will post -3.44 earnings per share for the current fiscal year.

Insider Activity at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now directly owns 2,676 shares of the company’s stock, valued at $93,660. This trade 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 this hyperlink. Also, Director Meghan V. Joyce sold 2,896 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the transaction, the director now owns 7,648 shares in the company, valued at approximately $228,675.20. This represents a 27.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,432 shares of company stock worth $175,423. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Sanford C. Bernstein lowered their target price on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Leerink Partners cut their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Fifteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $40.60.

Guardant Health 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.