Guardant Health (NASDAQ:GH) Sets New 1-Year High – Here’s Why

Guardant Health, Inc. (NASDAQ:GH) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $39.29 and last traded at $38.89, with a volume of 133117 shares traded. The stock had previously closed at $38.10.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GH. The Goldman Sachs Group raised their target price on Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Leerink Partners lowered their price objective on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein decreased their price target on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $40.60.

Guardant Health Stock Up 0.1 %

The firm has a 50 day moving average price of $33.43 and a two-hundred day moving average price of $28.84.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The company had revenue of $191.48 million for the quarter, compared to analyst estimates of $170.49 million. During the same quarter in the prior year, the company earned ($0.73) earnings per share. The business’s revenue was up 33.9% compared to the same quarter last year. On average, sell-side analysts predict that Guardant Health, Inc. will post -3.44 earnings per share for the current year.

Insider Activity at Guardant Health

In related news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the transaction, the director now directly owns 7,648 shares of the company’s stock, valued at $228,675.20. The trade was a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Musa Tariq sold 2,320 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was 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 trade represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,432 shares of company stock valued at $175,423 in the last ninety days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wealthcare Advisory Partners LLC acquired a new stake in Guardant Health in the fourth quarter worth about $252,000. Fiduciary Alliance LLC grew its position in shares of Guardant Health by 7.6% during the 4th quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock worth $363,000 after buying an additional 836 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Guardant Health during the 3rd quarter worth approximately $15,624,000. Exome Asset Management LLC lifted its holdings in Guardant Health by 13.7% in the third quarter. Exome Asset Management LLC now owns 89,800 shares of the company’s stock valued at $2,060,000 after buying an additional 10,800 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Guardant Health by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock valued at $64,754,000 after buying an additional 29,686 shares during the period. Institutional investors 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.