Guardant Health (NASDAQ:GH) Shares Up 7.4% – Should You Buy?

Guardant Health, Inc. (NASDAQ:GH) traded up 7.4% during mid-day trading on Wednesday . The company traded as high as $32.26 and last traded at $31.92. 1,674,351 shares were traded during trading, a decline of 19% from the average session volume of 2,066,458 shares. The stock had previously closed at $29.73.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. BTIG Research raised their target price on shares of Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler boosted their target price on shares of Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price target on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Leerink Partners decreased their price objective on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.75.

Guardant Health Price Performance

The stock’s 50-day moving average price is $23.31 and its 200-day moving average price is $26.27. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.22 and a quick ratio of 5.85.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company had revenue of $191.48 million during the quarter, compared to the consensus estimate of $170.49 million. During the same quarter in the previous year, the company earned ($0.73) earnings per share. The business’s revenue was up 33.9% on a year-over-year basis. As a group, analysts anticipate that Guardant Health, Inc. will post -3.38 earnings per share for the current year.

Institutional Trading of Guardant Health

Several large investors have recently modified their holdings of the stock. Advantage Alpha Capital Partners LP bought a new stake in shares of Guardant Health during the 3rd quarter worth $343,000. Cerity Partners LLC increased its holdings in Guardant Health by 54.6% in the 3rd quarter. Cerity Partners LLC now owns 195,008 shares of the company’s stock worth $4,473,000 after acquiring an additional 68,883 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Guardant Health in the 3rd quarter worth about $721,000. Intech Investment Management LLC purchased a new stake in Guardant Health in the 3rd quarter worth about $754,000. Finally, LMR Partners LLP purchased a new stake in Guardant Health in the 3rd quarter worth about $229,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.