Guardant Health (NASDAQ:GH) Shares Down 3.5%

Guardant Health, Inc. (NASDAQ:GH)’s share price fell 3.5% during mid-day trading on Tuesday . The stock traded as low as $24.50 and last traded at $24.50. Approximately 89,411 shares traded hands during trading, a decline of 96% from the average session volume of 2,106,511 shares. The stock had previously closed at $25.38.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GH shares. The Goldman Sachs Group upped their price target on shares of Guardant Health from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Canaccord Genuity Group lifted their price target on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. increased their price objective on Guardant Health from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Guggenheim upgraded Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Friday, June 28th. Finally, TD Cowen upped their target price on Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.31.

Guardant Health Stock Performance

The business’s 50-day simple moving average is $29.05 and its two-hundred day simple moving average is $24.97. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -6.40 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The business had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. During the same period in the previous year, the company posted ($0.67) EPS. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, sell-side analysts expect that Guardant Health, Inc. will post -3.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Guardant Health during the fourth quarter valued at $25,520,000. Duality Advisers LP purchased a new position in Guardant Health in the 1st quarter valued at about $1,154,000. Vanguard Group Inc. lifted its stake in Guardant Health by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock valued at $301,084,000 after buying an additional 180,424 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Guardant Health by 24.1% in the 4th quarter. Wellington Management Group LLP now owns 834,084 shares of the company’s stock worth $22,562,000 after buying an additional 161,986 shares during the last quarter. Finally, Swiss National Bank increased its stake in Guardant Health by 3.3% during the 1st quarter. Swiss National Bank now owns 227,700 shares of the company’s stock worth $4,697,000 after buying an additional 7,300 shares in the last quarter. Hedge funds and other 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.