The Manufacturers Life Insurance Company Takes Position in Guardant Health, Inc. $GH

The Manufacturers Life Insurance Company acquired a new position in Guardant Health, Inc. (NASDAQ:GH) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 1,390,337 shares of the company’s stock, valued at approximately $208,592,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GH. TrinityBridge Ltd purchased a new stake in Guardant Health in the second quarter valued at approximately $45,000. Elyxium Wealth LLC purchased a new position in Guardant Health during the 4th quarter worth approximately $35,000. Parallel Advisors LLC raised its position in Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after buying an additional 219 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Guardant Health during the 2nd quarter valued at approximately $59,000. Finally, EFG International AG acquired a new stake in Guardant Health during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $163.18 on Tuesday. The stock has a market capitalization of $21.90 billion, a price-to-earnings ratio of -46.76 and a beta of 1.60. Guardant Health, Inc. has a 12 month low of $53.40 and a 12 month high of $176.58. The firm’s 50 day simple moving average is $154.58 and its 200-day simple moving average is $119.07.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million for the quarter, compared to analysts’ expectations of $314.23 million. During the same period last year, the firm earned ($0.44) earnings per share. Guardant Health’s revenue for the quarter was up 44.3% compared to the same quarter last year. Analysts anticipate that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on GH shares. Guggenheim upped their price objective on shares of Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a report on Friday, July 17th. UBS Group set a $150.00 target price on shares of Guardant Health in a research report on Wednesday, June 24th. Citigroup upped their price target on shares of Guardant Health from $150.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Bank of America increased their price target on Guardant Health from $135.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Guardant Health presently has an average rating of “Moderate Buy” and a consensus target price of $183.78.

Insider Activity at Guardant Health

In other Guardant Health news, insider Terilyn J. Monroe sold 46,300 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total value of $7,645,056.00. Following the completion of the transaction, the insider owned 22,979 shares in the company, valued at approximately $3,794,292.48. This represents a 66.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ian T. Clark sold 14,180 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the sale, the director directly owned 2,975 shares in the company, valued at approximately $472,787. The trade was a 82.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 559,318 shares of company stock valued at $83,882,733 in the last quarter. 5.60% of the stock is currently owned by insiders.

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.