Guardant Health, Inc. (NASDAQ:GH) Shares Bought by ARK Investment Management LLC

ARK Investment Management LLC boosted its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 233.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,512,694 shares of the company’s stock after buying an additional 1,059,104 shares during the quarter. ARK Investment Management LLC owned 1.24% of Guardant Health worth $34,701,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Guardant Health during the 1st quarter worth about $8,300,000. Bank of New York Mellon Corp grew its holdings in shares of Guardant Health by 31.8% in the second quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock valued at $36,973,000 after purchasing an additional 309,157 shares in the last quarter. Vanguard Group Inc. increased its stake in Guardant Health by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock worth $235,925,000 after buying an additional 305,372 shares during the period. Railway Pension Investments Ltd lifted its holdings in Guardant Health by 63.8% during the 2nd quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company’s stock worth $17,931,000 after buying an additional 241,800 shares in the last quarter. Finally, First Light Asset Management LLC boosted its position in Guardant Health by 119.7% in the 2nd quarter. First Light Asset Management LLC now owns 416,967 shares of the company’s stock valued at $12,042,000 after buying an additional 227,202 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GH shares. Leerink Partners reduced their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group raised their target price on Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America increased their price target 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. Finally, UBS Group boosted their price objective on shares of Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.35.

Guardant Health Stock Performance

Shares of GH stock opened at $28.59 on Friday. The stock has a fifty day moving average price of $23.07 and a 200 day moving average price of $25.90. 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 stock has a market cap of $3.52 billion, a PE ratio of -6.99 and a beta of 1.11. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $37.04.

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