Vision Fund (Aiv M1) Softbank Buys 2,033,990 Shares of Guardant Health Inc (GH) Stock

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Guardant Health Inc (NASDAQ:GH) major shareholder Vision Fund (Aiv M1) Softbank purchased 2,033,990 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were acquired at an average price of $9.83 per share, for a total transaction of $19,994,121.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of GH stock traded up $3.06 during trading on Thursday, reaching $97.51. 2,098,060 shares of the company’s stock traded hands, compared to its average volume of 558,957. The stock has a market capitalization of $6.35 billion and a P/E ratio of -34.83. Guardant Health Inc has a 1 year low of $27.04 and a 1 year high of $100.74.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.05. The business had revenue of $32.87 million for the quarter, compared to analysts’ expectations of $24.57 million. On average, sell-side analysts anticipate that Guardant Health Inc will post -1.26 EPS for the current fiscal year.

A number of analysts recently commented on the stock. William Blair restated an “outperform” rating on shares of Guardant Health in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Guardant Health from $42.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Bank of America restated a “neutral” rating and set a $60.00 price target (up from $42.00) on shares of Guardant Health in a research note on Thursday, February 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $72.50.

A number of institutional investors have recently bought and sold shares of the stock. Temasek Holdings Private Ltd bought a new stake in Guardant Health during the 4th quarter worth approximately $60,633,000. Orbimed Advisors LLC bought a new stake in Guardant Health during the 4th quarter worth approximately $57,681,000. BlackRock Inc. bought a new stake in Guardant Health during the 4th quarter worth approximately $41,894,000. Jennison Associates LLC bought a new stake in Guardant Health during the 4th quarter worth approximately $31,700,000. Finally, Lord Abbett & CO. LLC bought a new stake in Guardant Health during the 4th quarter worth approximately $20,024,000. 69.54% of the stock is currently owned by institutional investors and hedge funds.

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Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides non-invasive cancer diagnostics. It offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes from circulating tumor DNA (ctDNA); and GuardantOMNI, a broader panel measuring various genes from ctDNA.

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