Sciencast Management LP purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH – Get Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 16,996 shares of the company's stock, valued at approximately $855,000.
Several other hedge funds also recently modified their holdings of the business. Handelsbanken Fonder AB increased its stake in shares of Guardant Health by 1.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 112,700 shares of the company's stock worth $4,546,000 after purchasing an additional 1,300 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Guardant Health by 24.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 41,219 shares of the company's stock worth $1,663,000 after buying an additional 8,134 shares during the period. Comerica Bank boosted its holdings in shares of Guardant Health by 874.9% during the 2nd quarter. Comerica Bank now owns 85,230 shares of the company's stock worth $3,957,000 after buying an additional 76,488 shares during the period. Xponance Inc. boosted its holdings in Guardant Health by 10.2% in the 2nd quarter. Xponance Inc. now owns 11,370 shares of the company's stock valued at $459,000 after purchasing an additional 1,051 shares during the period. Finally, US Bancorp DE boosted its holdings in Guardant Health by 4.3% in the 2nd quarter. US Bancorp DE now owns 13,357 shares of the company's stock valued at $538,000 after purchasing an additional 549 shares during the period. Institutional investors and hedge funds own 89.36% of the company's stock.
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GH opened at $44.10 on Monday. The company has a debt-to-equity ratio of 3.56, a quick ratio of 5.83 and a current ratio of 6.18. Guardant Health, Inc. has a 1-year low of $27.65 and a 1-year high of $121.26. The firm has a 50-day moving average price of $52.52 and a two-hundred day moving average price of $50.03.
Guardant Health (NASDAQ:GH – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported ($2.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.25) by ($1.00). The business had revenue of $109.14 million during the quarter, compared to the consensus estimate of $105.14 million. Guardant Health had a negative net margin of 135.03% and a negative return on equity of 99.90%. The firm's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the business posted ($0.96) EPS. As a group, analysts expect that Guardant Health, Inc. will post -6.1 earnings per share for the current year.Insider Activity
In related news, insider Kumud Kalia sold 2,000 shares of Guardant Health stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $51.39, for a total transaction of $102,780.00. Following the transaction, the insider now owns 18,530 shares of the company's stock, valued at approximately $952,256.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Kumud Kalia sold 2,000 shares of Guardant Health stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $51.39, for a total transaction of $102,780.00. Following the transaction, the insider now owns 18,530 shares of the company's stock, valued at approximately $952,256.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Amelia Merrill sold 4,500 shares of Guardant Health stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $53.38, for a total transaction of $240,210.00. Following the transaction, the senior vice president now directly owns 24,708 shares in the company, valued at approximately $1,318,913.04. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Morgan Stanley reduced their price target on shares of Guardant Health from $85.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, August 8th. Credit Suisse Group initiated coverage on shares of Guardant Health in a report on Wednesday, August 24th. They set an "outperform" rating and a $80.00 price objective for the company. Craig Hallum initiated coverage on shares of Guardant Health in a report on Wednesday, October 19th. They set a "buy" rating and a $88.00 price objective for the company. OTR Global downgraded shares of Guardant Health to a "positive" rating in a report on Monday, August 1st. Finally, Stephens initiated coverage on shares of Guardant Health in a report on Wednesday, October 5th. They set an "overweight" rating and a $99.00 price objective for the company. Fifteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Guardant Health presently has a consensus rating of "Buy" and a consensus price target of $112.57.
About Guardant Health
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Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers Guardant360, Guardant360 LDT, Guardant360 CDx, and GuardantOMNI liquid biopsy-based tests for advanced stage cancer; and GuardantINFORM, an in-silico research platform that comprise a clinical-genomic liquid biopsy dataset of advanced cancer patients.
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