Guardant Health, Inc. $GH Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 24.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,566 shares of the company’s stock after selling 5,536 shares during the period. Exchange Traded Concepts LLC’s holdings in Guardant Health were worth $914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MRA Advisory Group boosted its holdings in shares of Guardant Health by 7.1% during the 2nd quarter. MRA Advisory Group now owns 16,353 shares of the company’s stock worth $851,000 after purchasing an additional 1,078 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in Guardant Health in the first quarter valued at approximately $12,634,000. Rhumbline Advisers lifted its holdings in Guardant Health by 4.9% in the first quarter. Rhumbline Advisers now owns 175,432 shares of the company’s stock valued at $7,473,000 after acquiring an additional 8,202 shares during the last quarter. Strs Ohio acquired a new position in Guardant Health during the first quarter worth $809,000. Finally, Intech Investment Management LLC lifted its stake in Guardant Health by 37.3% during the first quarter. Intech Investment Management LLC now owns 60,187 shares of the company’s stock worth $2,564,000 after purchasing an additional 16,363 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Trading Down 0.1%

Shares of GH opened at $59.72 on Wednesday. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $68.00. The stock’s 50 day moving average is $54.89 and its two-hundred day moving average is $48.49. The firm has a market capitalization of $7.45 billion, a PE ratio of -17.83 and a beta of 1.46.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. The business had revenue of $232.09 million during the quarter, compared to analysts’ expectations of $211.19 million. During the same period in the prior year, the firm posted ($0.84) EPS. Guardant Health’s revenue for the quarter was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on GH. Raymond James Financial upped their price target on Guardant Health from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. BTIG Research reaffirmed a “buy” rating and set a $70.00 price objective on shares of Guardant Health in a research report on Monday. Scotiabank upped their price objective on Guardant Health from $57.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. Evercore ISI raised Guardant Health to a “strong-buy” rating in a research report on Monday, July 14th. Finally, Mizuho increased their target price on Guardant Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $59.00.

Insider Activity

In other news, CEO Amirali Talasaz sold 100,000 shares of Guardant Health stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the completion of the sale, the chief executive officer directly owned 1,971,830 shares in the company, valued at approximately $100,326,710.40. This trade represents a 4.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Medina Manuel Hidalgo sold 2,165 shares of Guardant Health stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $54.16, for a total value of $117,256.40. Following the transaction, the director owned 851 shares of the company’s stock, valued at $46,090.16. This represents a 71.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 402,691 shares of company stock worth $23,069,965. Company insiders own 6.10% of the company’s stock.

Guardant Health 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.