Guardant Health (NASDAQ:GH) Earns Buy Rating from Guggenheim

Guardant Health (NASDAQ:GH)‘s stock had its “buy” rating restated by stock analysts at Guggenheim in a research report issued on Monday,Benzinga reports. They currently have a $56.00 price target on the stock. Guggenheim’s target price would indicate a potential upside of 38.79% from the company’s current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group increased their target price on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Stifel Nicolaus raised their price target on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Canaccord Genuity Group raised their price target on shares of Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Barclays started coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price target on the stock. Nineteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $47.37.

Guardant Health Stock Down 4.9 %

GH stock opened at $40.35 on Monday. The company’s 50-day simple moving average is $40.43 and its 200-day simple moving average is $31.74. Guardant Health has a 52-week low of $15.81 and a 52-week high of $50.89. The firm has a market cap of $4.98 billion, a P/E ratio of -11.33 and a beta of 1.32.

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

Insiders Place Their Bets

In other news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the sale, the director now owns 2,676 shares in the company, valued at $93,660. This trade represents a 46.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 2,768 shares of company stock valued at $98,798 in the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Guardant Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. 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 buying an additional 230 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Guardant Health by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock worth $377,000 after buying an additional 391 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Guardant Health by 1.1% during the 4th 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Guardant Health by 21.8% during the 3rd 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 during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Guardant Health by 43.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock worth $82,000 after buying an additional 817 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.