abrdn plc Sells 109,522 Shares of Guardant Health, Inc. (NASDAQ:GH)

abrdn plc lessened its holdings in Guardant Health, Inc. (NASDAQ:GH) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 442,951 shares of the company’s stock after selling 109,522 shares during the quarter. abrdn plc’s holdings in Guardant Health were worth $13,532,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GH. JNBA Financial Advisors acquired a new stake in shares of Guardant Health in the 3rd quarter valued at approximately $26,000. R Squared Ltd acquired a new stake in Guardant Health in the fourth quarter valued at $26,000. Ashton Thomas Securities LLC bought a new position in shares of Guardant Health in the 3rd quarter valued at about $34,000. Nisa Investment Advisors LLC increased its stake in shares of Guardant Health by 168.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,434 shares of the company’s stock worth $79,000 after purchasing an additional 2,153 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Guardant Health by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock valued at $102,000 after purchasing an additional 796 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GH shares. Sanford C. Bernstein reduced their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Barclays initiated coverage on Guardant Health in a research note on Thursday, January 23rd. They set an “overweight” rating and a $60.00 target price for the company. JPMorgan Chase & Co. increased their price target on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Leerink Partners reduced their price objective on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Guggenheim reissued a “buy” rating on shares of Guardant Health in a research report on Wednesday, January 22nd. Sixteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $42.63.

Guardant Health Price Performance

Guardant Health stock opened at $44.47 on Friday. The firm has a market cap of $5.49 billion, a PE ratio of -10.49 and a beta of 1.32. The stock’s fifty day moving average price is $37.94 and its two-hundred day moving average price is $30.59. Guardant Health, Inc. has a one year low of $15.81 and a one year high of $50.89.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The company had revenue of $191.48 million during the quarter, compared to the consensus estimate of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.73) EPS. Sell-side analysts expect that Guardant Health, Inc. will post -3.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the transaction, the director now owns 7,648 shares of the company’s stock, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Musa Tariq sold 2,320 shares of the firm’s 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 completion of the sale, the director now owns 2,676 shares in the company, valued at approximately $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,548 shares of company stock worth $179,782 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

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.