Guardant Health (NASDAQ:GH) Raised to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of Guardant Health (NASDAQ:GH) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on GH. UBS Group raised their target price on Guardant Health from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Canaccord Genuity Group lifted their price objective on Guardant Health from $60.00 to $65.00 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 objective on shares of Guardant Health in a report on Wednesday, March 26th. Mizuho lifted their price objective on Guardant Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Finally, TD Securities lifted their price objective on Guardant Health from $56.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Twenty-one equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Guardant Health has a consensus rating of “Buy” and an average target price of $53.76.

Guardant Health Trading Down 0.6%

Shares of GH opened at $47.81 on Monday. Guardant Health has a 1 year low of $20.14 and a 1 year high of $53.42. The stock has a market cap of $5.92 billion, a P/E ratio of -14.10 and a beta of 1.44. The stock’s 50-day moving average price is $46.10 and its two-hundred day moving average price is $44.06.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.08. The company had revenue of $203.47 million for the quarter, compared to the consensus estimate of $189.91 million. During the same quarter last year, the business posted ($0.46) EPS. Guardant Health’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, equities analysts forecast that Guardant Health will post -2.9 EPS for the current year.

Insider Activity

In other Guardant Health news, CEO Amirali Talasaz sold 106,784 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the transaction, the chief executive officer owned 2,202,672 shares of the company’s stock, valued at $107,952,954.72. The trade was a 4.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Myrtle S. Potter sold 2,626 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.70, for a total value of $130,512.20. Following the transaction, the director directly owned 18,180 shares in the company, valued at $903,546. This trade represents a 12.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 342,158 shares of company stock worth $17,075,394. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GH. Signaturefd LLC increased its holdings in shares of Guardant Health by 50.5% during the 2nd quarter. Signaturefd LLC now owns 635 shares of the company’s stock worth $33,000 after acquiring an additional 213 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Guardant Health during the 1st quarter worth approximately $54,000. NewEdge Advisors LLC increased its holdings in shares of Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Guardant Health during the 4th quarter worth approximately $61,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Guardant Health during the 4th quarter worth approximately $79,000. 92.60% of the stock is owned by institutional investors and hedge funds.

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.