Guardant Health (NASDAQ:GH) Shares Gap Down to $29.02

Shares of Guardant Health, Inc. (NASDAQ:GH) gapped down before the market opened on Monday . The stock had previously closed at $29.02, but opened at $27.38. Guardant Health shares last traded at $26.00, with a volume of 849,728 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on GH. UBS Group increased their target price on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Citigroup boosted their target price on shares of Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. BTIG Research upped their price target on shares of Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Piper Sandler lifted their price target on shares of Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group started coverage on Guardant Health in a report on Monday, June 3rd. They issued a “buy” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.31.

Guardant Health Stock Down 10.3 %

The company has a current ratio of 5.95, a quick ratio of 5.66 and a debt-to-equity ratio of 16.70. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -6.62 and a beta of 1.13. The stock’s 50-day moving average is $30.36 and its 200-day moving average is $24.49.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. The company had revenue of $177.24 million for the quarter, compared to the consensus estimate of $162.59 million. During the same period last year, the company earned ($0.67) EPS. Guardant Health’s revenue for the quarter was up 29.2% compared to the same quarter last year. On average, analysts anticipate that Guardant Health, Inc. will post -3.31 earnings per share for the current fiscal year.

Institutional Trading of Guardant Health

Several hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in Guardant Health during the 4th quarter worth approximately $326,000. State of New Jersey Common Pension Fund D lifted its position in shares of Guardant Health by 53.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 100,948 shares of the company’s stock worth $2,731,000 after buying an additional 35,202 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Guardant Health in the 4th quarter worth approximately $258,000. Headlands Technologies LLC grew its holdings in shares of Guardant Health by 362.3% in the fourth quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock valued at $64,000 after acquiring an additional 1,844 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Guardant Health by 29.4% during the fourth quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock valued at $73,000 after acquiring an additional 614 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Company Profile

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.