Bridgewater Associates LP Sells 2,061 Shares of Guardant Health, Inc. (NASDAQ:GH)

Bridgewater Associates LP trimmed its holdings in Guardant Health, Inc. (NASDAQ:GH) by 10.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 18,140 shares of the company’s stock after selling 2,061 shares during the period. Bridgewater Associates LP’s holdings in Guardant Health were worth $416,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Guardant Health by 1,282.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock worth $28,128,000 after purchasing an additional 1,137,482 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Guardant Health by 233.5% during the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after buying an additional 1,059,104 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Guardant Health by 31.8% in the second quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock worth $36,973,000 after buying an additional 309,157 shares in the last quarter. Railway Pension Investments Ltd boosted its position in shares of Guardant Health by 63.8% during the second quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company’s stock worth $17,931,000 after acquiring an additional 241,800 shares during the last quarter. Finally, First Light Asset Management LLC grew its stake in 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 acquiring an additional 227,202 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on GH shares. JPMorgan Chase & Co. boosted their price target on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. UBS Group lifted their price objective on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Leerink Partners lowered their target price on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Piper Sandler boosted their price target on shares of Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, Sanford C. Bernstein lowered their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the sale, the director now directly owns 7,648 shares of the company’s stock, valued at approximately $228,675.20. This represents a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.50% of the company’s stock.

Guardant Health Stock Performance

GH opened at $35.52 on Tuesday. The company has a market cap of $4.39 billion, a P/E ratio of -8.38 and a beta of 1.11. The company has a quick ratio of 5.85, a current ratio of 6.22 and a debt-to-equity ratio of 16.70. The firm’s 50-day moving average price is $25.21 and its 200-day moving average price is $27.37. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $37.04.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The company had revenue of $191.48 million during the quarter, compared to analysts’ expectations of $170.49 million. During the same period in the prior year, the business posted ($0.73) EPS. The company’s quarterly revenue was up 33.9% on a year-over-year basis. As a group, equities analysts anticipate that Guardant Health, Inc. will post -3.38 EPS for the current fiscal year.

Guardant Health 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.