State of New Jersey Common Pension Fund D Decreases Position in Guardant Health, Inc. (NASDAQ:GH)

State of New Jersey Common Pension Fund D decreased its stake in Guardant Health, Inc. (NASDAQ:GH) by 48.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,286 shares of the company’s stock after selling 67,151 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Guardant Health were worth $2,059,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GH. Manchester Capital Management LLC bought a new stake in Guardant Health in the first quarter worth about $57,000. Canton Hathaway LLC bought a new stake in shares of Guardant Health during the 2nd quarter worth approximately $59,000. EntryPoint Capital LLC purchased a new position in Guardant Health during the 1st quarter valued at $75,000. Byrne Asset Management LLC bought a new position in Guardant Health in the 2nd quarter valued at $77,000. Finally, Fullcircle Wealth LLC purchased a new stake in Guardant Health in the second quarter worth $211,000. Institutional investors own 92.60% of the company’s stock.

Analysts Set New Price Targets

GH has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Guggenheim upgraded shares of 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. Craig Hallum lifted their price target on shares of Guardant Health from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Canaccord Genuity Group increased their price objective on Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, BTIG Research lifted their target price on Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.31.

Guardant Health Stock Down 1.2 %

Shares of Guardant Health stock opened at $25.09 on Friday. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $37.04. The firm’s 50 day moving average price is $28.84 and its 200-day moving average price is $25.01. 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 company has a market cap of $3.07 billion, a P/E ratio of -6.40 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results 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 418.21% and a negative net margin of 76.23%. The business had revenue of $177.24 million for the quarter, compared to analyst estimates of $162.59 million. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.67) earnings per share. On average, sell-side analysts predict that Guardant Health, Inc. will post -3.3 EPS for the current fiscal year.

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.