Oak Ridge Investments LLC Cuts Stock Position in Guardant Health, Inc. (NASDAQ:GH)

Oak Ridge Investments LLC cut its holdings in Guardant Health, Inc. (NASDAQ:GH) by 3.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,552 shares of the company’s stock after selling 632 shares during the quarter. Oak Ridge Investments LLC’s holdings in Guardant Health were worth $357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new position in Guardant Health during the second quarter worth $44,000. Manchester Capital Management LLC purchased a new position in Guardant Health during the first quarter worth $57,000. Canton Hathaway LLC purchased a new position in Guardant Health during the second quarter worth $59,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Guardant Health during the second quarter worth $71,000. Finally, EntryPoint Capital LLC purchased a new position in Guardant Health during the first quarter worth $75,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler boosted their target price on shares of Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group boosted their target price on shares of Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Craig Hallum boosted their target price on shares of Guardant Health from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. UBS Group boosted their target price on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Bank of America boosted their target price on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Guardant Health Stock Performance

Shares of Guardant Health stock opened at $23.00 on Friday. The company has a market capitalization of $2.83 billion, a PE ratio of -5.62 and a beta of 1.11. The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40. The company has a 50-day simple moving average of $23.27 and a two-hundred day simple moving average of $25.61. Guardant Health, Inc. has a one year low of $15.81 and a one year high of $37.04.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). The firm had revenue of $177.24 million during the quarter, compared to the consensus estimate of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.67) earnings per share. Research analysts expect that Guardant Health, Inc. will post -3.31 EPS for the current fiscal year.

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.