Guardant Health, Inc. (NASDAQ:GH) Receives $40.60 Consensus Target Price from Brokerages

Shares of Guardant Health, Inc. (NASDAQ:GH) have been given an average rating of “Buy” by the fifteen analysts that are currently covering the firm, Marketbeat reports. Fifteen investment analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $40.60.

Several brokerages have issued reports on GH. UBS Group raised their price target on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Leerink Partners cut their target price on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. The Goldman Sachs Group upped their price target on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein reduced their price objective on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th.

Insider Buying and Selling

In related news, Director Musa Tariq sold 2,320 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the sale, the director now owns 2,676 shares in the company, valued at approximately $93,660. This trade represents a 46.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Meghan V. Joyce sold 2,896 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following the transaction, the director now 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 disclosure for this sale can be found here. Insiders have sold 5,316 shares of company stock valued at $171,380 over the last 90 days. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Guardant Health

A number of large investors have recently modified their holdings of GH. Lord Abbett & CO. LLC acquired a new stake in shares of Guardant Health in the 3rd quarter valued at approximately $15,624,000. Cerity Partners LLC boosted its position in Guardant Health by 54.6% in the third quarter. Cerity Partners LLC now owns 195,008 shares of the company’s stock valued at $4,473,000 after buying an additional 68,883 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Guardant Health by 1,282.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock valued at $28,128,000 after buying an additional 1,137,482 shares in the last quarter. First Light Asset Management LLC boosted its position in Guardant Health by 119.7% in the second quarter. First Light Asset Management LLC now owns 416,967 shares of the company’s stock valued at $12,042,000 after buying an additional 227,202 shares in the last quarter. Finally, Pier Capital LLC grew its stake in shares of Guardant Health by 36.7% during the third quarter. Pier Capital LLC now owns 158,429 shares of the company’s stock worth $3,634,000 after buying an additional 42,575 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Trading Down 7.1 %

Shares of NASDAQ:GH opened at $32.36 on Monday. Guardant Health has a 52-week low of $15.81 and a 52-week high of $38.53. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. The company has a market capitalization of $4.00 billion, a P/E ratio of -7.63 and a beta of 1.26. The company has a 50-day simple moving average of $28.48 and a 200 day simple moving average of $28.27.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data 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 net margin of 74.02% and a negative return on equity of 1,200.44%. The business had revenue of $191.48 million during the quarter, compared to analyst estimates of $170.49 million. During the same period in the previous year, the business earned ($0.73) earnings per share. The business’s quarterly revenue was up 33.9% on a year-over-year basis. Sell-side analysts forecast that Guardant Health will post -3.44 earnings per share for the current 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.