Guardant Health’s (GH) Outperform Rating Reiterated at Raymond James

Guardant Health (NASDAQ:GH)‘s stock had its “outperform” rating reaffirmed by analysts at Raymond James in a note issued to investors on Friday,Benzinga reports. They presently have a $59.00 price objective on the stock, up from their previous price objective of $39.00. Raymond James’ price objective indicates a potential upside of 33.72% from the stock’s previous close.

Several other research firms have also weighed in on GH. Guggenheim restated a “buy” rating on shares of Guardant Health in a research report on Wednesday, January 22nd. Sanford C. Bernstein lowered their price target on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Barclays began coverage on Guardant Health in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 target price for the company. JPMorgan Chase & Co. upped their price target on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday. Finally, The Goldman Sachs Group increased their target price on shares of Guardant Health from $36.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $44.39.

Guardant Health Stock Performance

GH traded down $3.28 during mid-day trading on Friday, reaching $44.12. 2,099,761 shares of the stock were exchanged, compared to its average volume of 2,455,924. Guardant Health has a 1 year low of $15.81 and a 1 year high of $50.89. The stock has a market capitalization of $5.45 billion, a PE ratio of -10.43 and a beta of 1.32. The company has a 50 day moving average price of $40.03 and a two-hundred day moving average price of $31.51.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, February 20th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The firm had revenue of $201.81 million for the quarter, compared to the consensus estimate of $192.50 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. Sell-side analysts expect that Guardant Health will post -3.39 EPS for the current fiscal year.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now directly owns 2,676 shares of the company’s stock, valued at $93,660. The trade was a 46.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 2,652 shares of company stock worth $93,192. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Guardant Health

A number of large investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC bought a new stake in Guardant Health in the third quarter valued at $15,624,000. Guyasuta Investment Advisors Inc. purchased a new stake in Guardant Health during the 4th quarter valued at $206,000. Cerity Partners LLC raised its stake in shares of Guardant Health by 54.6% in the third quarter. Cerity Partners LLC now owns 195,008 shares of the company’s stock worth $4,473,000 after purchasing an additional 68,883 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Guardant Health by 1.1% during 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 last quarter. Finally, Entropy Technologies LP bought a new position in Guardant Health during the 4th quarter valued at about $377,000. Institutional investors 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.