Guardant Health (NASDAQ:GH) Sets New 52-Week Low Following Weak Earnings

Guardant Health, Inc. (NASDAQ:GH)’s stock price reached a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $46.76 and last traded at $47.23, with a volume of 3323564 shares. The stock had previously closed at $49.53.

The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The company had revenue of $201.81 million for the quarter, compared to the consensus estimate of $192.50 million.

Analyst Ratings Changes

A number of research firms have recently commented on GH. Guggenheim restated a “buy” rating and set a $56.00 price target on shares of Guardant Health in a research report on Monday, February 24th. Canaccord Genuity Group boosted their target price on Guardant Health from $42.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Stifel Nicolaus raised their price target on Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday, February 21st. Stephens reissued an “overweight” rating and set a $55.00 price objective on shares of Guardant Health in a report on Wednesday, March 26th. Finally, Piper Sandler raised their target price on shares of Guardant Health from $34.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $49.00.

Hedge Funds Weigh In On Guardant Health

Several institutional investors and hedge funds have recently bought and sold shares of GH. R Squared Ltd bought a new position in shares of Guardant Health in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new stake in Guardant Health in the 4th quarter worth $43,000. Kimelman & Baird LLC purchased a new position in shares of Guardant Health in the fourth quarter valued at about $58,000. NewEdge Advisors LLC raised its stake in shares of Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after acquiring an additional 230 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health during the fourth quarter worth about $61,000. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Down 4.6 %

The company has a market capitalization of $5.83 billion, a PE ratio of -13.27 and a beta of 1.45. The stock’s fifty day moving average price is $43.48 and its two-hundred day moving average price is $37.75.

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.