Exchange Traded Concepts LLC Acquires 5,160 Shares of Guardant Health, Inc. (NASDAQ:GH)

Exchange Traded Concepts LLC lifted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 14.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,009 shares of the company’s stock after buying an additional 5,160 shares during the period. Exchange Traded Concepts LLC’s holdings in Guardant Health were worth $941,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of GH. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Guardant Health during the first quarter worth $8,300,000. Bank of New York Mellon Corp grew its position in Guardant Health by 31.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock worth $36,973,000 after acquiring an additional 309,157 shares during the last quarter. Vanguard Group Inc. increased its holdings in Guardant Health by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock worth $235,925,000 after purchasing an additional 305,372 shares in the last quarter. Railway Pension Investments Ltd raised its position in Guardant Health by 63.8% in the second quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company’s stock valued at $17,931,000 after purchasing an additional 241,800 shares during the last quarter. Finally, First Light Asset Management LLC boosted its stake in shares of Guardant Health by 119.7% during the second quarter. First Light Asset Management LLC now owns 416,967 shares of the company’s stock valued at $12,042,000 after purchasing an additional 227,202 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Stock Down 4.3 %

Guardant Health stock opened at $20.68 on Friday. The company has a market capitalization of $2.53 billion, a PE ratio of -5.28 and a beta of 1.11. Guardant Health, Inc. has a 12-month low of $15.81 and a 12-month high of $37.04. The firm’s fifty day moving average is $24.76 and its 200 day moving average is $25.46. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70.

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 418.21% and a negative net margin of 76.23%. 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. As a group, sell-side analysts predict that Guardant Health, Inc. will post -3.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Guggenheim raised shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Friday, June 28th. Craig Hallum raised their target price on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Citigroup upped their price target on Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, BTIG Research raised their price objective on Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.31.

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.