Swiss National Bank Decreases Stock Position in Guardant Health, Inc. (NASDAQ:GH)

Swiss National Bank trimmed its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 1.1% during the first quarter, HoldingsChannel reports. The fund owned 239,300 shares of the company’s stock after selling 2,600 shares during the quarter. Swiss National Bank’s holdings in Guardant Health were worth $10,194,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in Guardant Health during the 1st quarter valued at $232,000. Stifel Financial Corp boosted its stake in Guardant Health by 25.1% during the 4th quarter. Stifel Financial Corp now owns 49,927 shares of the company’s stock valued at $1,525,000 after acquiring an additional 10,006 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Guardant Health during the 1st quarter valued at $866,000. Fifth Third Bancorp bought a new position in Guardant Health during the 1st quarter valued at $279,000. Finally, Raymond James Financial Inc. bought a new position in Guardant Health during the 4th quarter valued at $2,211,000. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on GH shares. Raymond James Financial increased their price objective on shares of Guardant Health from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Mizuho lifted their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. TD Securities lifted their price objective on shares of Guardant Health from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Evercore ISI upgraded shares of Guardant Health to a “strong-buy” rating in a research report on Monday, July 14th. Finally, Canaccord Genuity Group raised their price target on shares of Guardant Health from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Sixteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Guardant Health presently has a consensus rating of “Buy” and a consensus target price of $57.50.

Guardant Health Stock Down 2.5%

GH stock opened at $58.88 on Friday. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $60.68. The firm’s 50-day simple moving average is $49.22 and its 200 day simple moving average is $45.56. The stock has a market cap of $7.34 billion, a PE ratio of -17.58 and a beta of 1.43.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.08. The firm had revenue of $232.09 million during the quarter, compared to analyst estimates of $211.19 million. During the same period last year, the business earned ($0.84) EPS. The firm’s revenue was up 31.0% on a year-over-year basis. Equities analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Guardant Health news, Director Musa Tariq sold 3,213 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total transaction of $158,947.11. Following the transaction, the director owned 7,190 shares of the company’s stock, valued at approximately $355,689.30. This trade represents a 30.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myrtle S. Potter sold 2,626 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.70, for a total transaction of $130,512.20. Following the transaction, the director directly owned 18,180 shares in the company, valued at approximately $903,546. The trade was a 12.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 235,516 shares of company stock worth $11,848,754. 6.10% of the stock is owned by company insiders.

Guardant Health Company Profile

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.