Guardant Health’s (GH) Buy Rating Reiterated at Guggenheim

Guardant Health (NASDAQ:GH)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a report issued on Monday,Benzinga reports. They presently have a $56.00 target price on the stock. Guggenheim’s target price would suggest a potential upside of 30.22% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Barclays assumed coverage on Guardant Health in a research report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price objective for the company. The Goldman Sachs Group raised their price target on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday. Canaccord Genuity Group raised their price objective on shares of Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. Finally, Raymond James reiterated an “outperform” rating and issued a $59.00 target price (up from $39.00) on shares of Guardant Health in a research note on Friday. Nineteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $47.37.

Guardant Health Trading Up 0.3 %

NASDAQ:GH traded up $0.13 on Monday, hitting $43.00. 431,493 shares of the company’s stock traded hands, compared to its average volume of 2,498,636. The company has a market cap of $5.31 billion, a PE ratio of -12.11 and a beta of 1.32. Guardant Health has a 1 year low of $15.81 and a 1 year high of $50.89. The firm has a 50-day moving average price of $40.19 and a 200-day moving average price of $31.57.

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

Insider Activity

In other news, Director Musa Tariq sold 2,320 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the transaction, the director now owns 2,676 shares in the company, valued at approximately $93,660. This represents a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 2,768 shares of company stock valued at $98,798. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GH. NewEdge Advisors LLC lifted its stake in Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after acquiring an additional 230 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Guardant Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock valued at $377,000 after purchasing an additional 391 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Guardant Health by 1.1% during the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock valued at $1,089,000 after purchasing an additional 403 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock worth $102,000 after purchasing an additional 796 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Guardant Health by 43.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock worth $82,000 after purchasing an additional 817 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

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.