Guardant Health, Inc. (NASDAQ:GH) Receives Average Rating of “Buy” from Analysts

Guardant Health, Inc. (NASDAQ:GH) has received an average rating of “Buy” from the twenty ratings firms that are currently covering the stock, MarketBeat.com reports. Twenty research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $48.95.

GH has been the subject of a number of analyst reports. Stephens reissued an “overweight” rating and issued a $55.00 price objective on shares of Guardant Health in a research report on Wednesday, March 26th. Piper Sandler lifted their price target on Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Stifel Nicolaus boosted their price target on Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Scotiabank raised their price objective on Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Finally, Barclays assumed coverage on Guardant Health in a report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 target price on the stock.

Institutional Investors Weigh In On Guardant Health

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Guardant Health by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company’s stock valued at $368,205,000 after acquiring an additional 350,606 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Guardant Health by 188.6% in the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after purchasing an additional 6,618,785 shares during the period. Deep Track Capital LP raised its stake in Guardant Health by 7.0% in the fourth quarter. Deep Track Capital LP now owns 6,419,566 shares of the company’s stock valued at $196,118,000 after purchasing an additional 419,006 shares in the last quarter. Eventide Asset Management LLC raised its stake in Guardant Health by 2.0% in the third quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock valued at $88,028,000 after purchasing an additional 76,762 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Guardant Health by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after buying an additional 29,686 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Performance

NASDAQ:GH opened at $43.14 on Wednesday. Guardant Health has a 52-week low of $15.81 and a 52-week high of $50.89. The company has a market cap of $5.32 billion, a P/E ratio of -12.12 and a beta of 1.50. The stock’s 50-day simple moving average is $44.66 and its 200 day simple moving average is $34.37.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results 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). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The company had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. As a group, equities analysts predict that Guardant Health will post -2.9 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.