State of New Jersey Common Pension Fund D Increases Stake in Guardant Health, Inc. (NASDAQ:GH)

State of New Jersey Common Pension Fund D raised its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 53.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,948 shares of the company’s stock after buying an additional 35,202 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of Guardant Health worth $2,731,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CWM LLC boosted its position in shares of Guardant Health by 137.1% in the third quarter. CWM LLC now owns 984 shares of the company’s stock worth $29,000 after purchasing an additional 569 shares during the period. BluePath Capital Management LLC bought a new position in shares of Guardant Health in the third quarter worth approximately $35,000. Nisa Investment Advisors LLC boosted its position in shares of Guardant Health by 26.1% in the third quarter. Nisa Investment Advisors LLC now owns 3,450 shares of the company’s stock worth $102,000 after purchasing an additional 713 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Guardant Health in the third quarter worth approximately $115,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Guardant Health by 50.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,421 shares of the company’s stock worth $131,000 after purchasing an additional 1,491 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GH. JPMorgan Chase & Co. dropped their price target on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Craig Hallum initiated coverage on shares of Guardant Health in a research report on Wednesday, April 24th. They set a “buy” rating and a $28.00 target price for the company. The Goldman Sachs Group dropped their target price on shares of Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Guggenheim restated a “neutral” rating on shares of Guardant Health in a research report on Friday, April 5th. Finally, Piper Sandler dropped their target price on shares of Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, February 26th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.91.

Insider Activity

In other news, insider Kumud Kalia bought 2,187 shares of Guardant Health stock in a transaction dated Monday, March 18th. The shares were acquired at an average price of $17.82 per share, with a total value of $38,972.34. Following the completion of the purchase, the insider now owns 12,722 shares in the company, valued at approximately $226,706.04. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.20% of the company’s stock.

Guardant Health Price Performance

GH stock opened at $18.00 on Wednesday. Guardant Health, Inc. has a 52 week low of $15.81 and a 52 week 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 has a fifty day simple moving average of $18.65 and a two-hundred day simple moving average of $22.75. The firm has a market capitalization of $2.19 billion, a P/E ratio of -4.21 and a beta of 0.87.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.58) 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 for the quarter, compared to the consensus estimate of $151.71 million. Analysts anticipate that Guardant Health, Inc. will post -3.49 earnings per share for the current fiscal year.

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.