Guggenheim Upgrades Guardant Health (NASDAQ:GH) to Buy

Guardant Health (NASDAQ:GH) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a report released on Friday, Briefing.com reports. The brokerage currently has a $36.00 target price on the stock. Guggenheim’s price objective would indicate a potential upside of 23.92% from the stock’s current price.

Several other research firms also recently weighed in on GH. Canaccord Genuity Group upped their price target on Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Stephens restated an “overweight” rating and issued a $44.00 price target on shares of Guardant Health in a research note on Friday, May 24th. The Goldman Sachs Group cut their target price on Guardant Health from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Craig Hallum initiated coverage on Guardant Health in a report on Wednesday, April 24th. They issued a “buy” rating and a $28.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on Guardant Health in a report on Monday, June 3rd. They issued a “buy” rating and a $32.00 target price for the company. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Guardant Health presently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

Guardant Health Trading Down 1.2 %

NASDAQ GH opened at $29.05 on Friday. Guardant Health has a 1-year low of $15.81 and a 1-year high of $41.06. 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 stock has a 50-day moving average of $24.72 and a 200-day moving average of $22.99. The firm has a market cap of $3.55 billion, a PE ratio of -7.41 and a beta of 1.15.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.94) EPS for the quarter, meeting analysts’ consensus estimates of ($0.94). The business had revenue of $168.49 million during the quarter, compared to analyst estimates of $150.51 million. Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. As a group, sell-side analysts forecast that Guardant Health will post -3.31 EPS for the current year.

Institutional Trading of Guardant Health

Large investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its position in Guardant Health by 7.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 152,986 shares of the company’s stock valued at $3,156,000 after purchasing an additional 10,000 shares in the last quarter. Beck Bode LLC lifted its position in Guardant Health by 42.6% during the first quarter. Beck Bode LLC now owns 203,596 shares of the company’s stock valued at $4,200,000 after purchasing an additional 60,851 shares in the last quarter. Adalta Capital Management LLC lifted its position in Guardant Health by 15.6% during the first quarter. Adalta Capital Management LLC now owns 71,023 shares of the company’s stock valued at $1,465,000 after purchasing an additional 9,565 shares in the last quarter. First Light Asset Management LLC lifted its position in Guardant Health by 31.7% during the first quarter. First Light Asset Management LLC now owns 189,765 shares of the company’s stock valued at $3,915,000 after purchasing an additional 45,716 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Guardant Health during the first quarter valued at $75,000. 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.