Guardant Health, Inc. (NASDAQ:GH) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Guardant Health, Inc. (NASDAQ:GH) have received a consensus rating of “Buy” from the twenty-two analysts that are presently covering the company, Marketbeat reports. Twenty-one research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $52.32.

A number of research firms recently commented on GH. Raymond James reiterated an “outperform” rating and set a $59.00 price target (up from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Piper Sandler reiterated an “overweight” rating and set a $60.00 price target (up from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. TD Securities upped their price target on shares of Guardant Health from $56.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Stephens reiterated an “overweight” rating and set a $55.00 price target on shares of Guardant Health in a report on Wednesday, March 26th. Finally, Canaccord Genuity Group upped their price target on shares of Guardant Health from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 1st.

Insider Activity

In other Guardant Health news, CEO Amirali Talasaz sold 106,784 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the sale, the chief executive officer now owns 2,202,672 shares in the company, valued at approximately $107,952,954.72. This trade represents a 4.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 107,132 shares of company stock valued at $5,249,355 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guardant Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Guyasuta Investment Advisors Inc. purchased a new position in shares of Guardant Health in the fourth quarter valued at $206,000. Entropy Technologies LP purchased a new position in shares of Guardant Health in the fourth quarter valued at $377,000. Stifel Financial Corp grew its holdings in shares of Guardant Health by 25.1% in the fourth quarter. Stifel Financial Corp now owns 49,927 shares of the company’s stock valued at $1,525,000 after purchasing an additional 10,006 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Guardant Health in the fourth quarter valued at $2,211,000. Finally, Swiss National Bank grew its holdings in shares of Guardant Health by 1.0% in the fourth quarter. Swiss National Bank now owns 241,900 shares of the company’s stock valued at $7,390,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

Shares of GH opened at $40.72 on Thursday. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of -11.44 and a beta of 1.49. Guardant Health has a fifty-two week low of $20.14 and a fifty-two week high of $52.92. The firm has a 50 day moving average price of $43.76 and a 200-day moving average price of $39.27.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.08. The firm had revenue of $203.47 million during the quarter, compared to analyst estimates of $189.91 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.46) EPS. As a group, equities research analysts predict that Guardant Health will post -2.9 earnings per share for the current year.

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.