Guardant Health’s (GH) Outperform Rating Reaffirmed at Raymond James

Guardant Health (NASDAQ:GH)‘s stock had its “outperform” rating restated by analysts at Raymond James in a research report issued on Friday,Benzinga reports. They presently have a $59.00 target price on the stock, up from their prior target price of $39.00. Raymond James’ target price indicates a potential upside of 37.63% from the stock’s current price.

GH has been the subject of a number of other reports. Stifel Nicolaus increased their price target on Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. Barclays began coverage on Guardant Health in a report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price target on the stock. The Goldman Sachs Group lifted their price target on Guardant Health from $36.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Sanford C. Bernstein dropped their price target 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, JPMorgan Chase & Co. lifted their price target on Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $44.78.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $42.87 on Friday. The stock has a market capitalization of $5.30 billion, a P/E ratio of -12.04 and a beta of 1.32. The company has a 50-day moving average price of $40.19 and a 200-day moving average price of $31.59. Guardant Health has a 1 year low of $15.81 and a 1 year high of $50.89.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The firm had revenue of $201.81 million for the quarter, compared to analysts’ expectations of $192.50 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. As a group, equities research analysts anticipate that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction on Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares in the company, valued at approximately $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 2,768 shares of company stock worth $98,798 over the last ninety days. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Guardant Health

Several hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in shares of Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after purchasing an additional 230 shares in the last quarter. Summit Investment Advisors Inc. grew its position in Guardant Health by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock worth $377,000 after buying an additional 391 shares in the last quarter. Arizona State Retirement System grew its position in Guardant Health by 1.1% during the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock worth $1,089,000 after buying an additional 403 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock worth $102,000 after buying an additional 796 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in Guardant Health by 43.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock worth $82,000 after buying an additional 817 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

About Guardant Health

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.