Cibc World Markets Corp Makes New Investment in Guardant Health, Inc. (NASDAQ:GH)

Cibc World Markets Corp acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,342 shares of the company’s stock, valued at approximately $346,000.

A number of other hedge funds have also modified their holdings of GH. Arizona State Retirement System increased its position in Guardant Health by 1.1% in the 4th quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock valued at $1,089,000 after acquiring an additional 403 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Guardant Health by 43.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock valued at $82,000 after purchasing an additional 817 shares during the period. Fiduciary Alliance LLC raised its stake in shares of Guardant Health by 7.6% during the fourth quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock worth $363,000 after purchasing an additional 836 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Guardant Health during the fourth quarter worth $26,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Guardant Health by 47.4% during the fourth quarter. Van ECK Associates Corp now owns 2,887 shares of the company’s stock worth $88,000 after purchasing an additional 929 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

GH opened at $46.74 on Tuesday. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $50.89. The company’s 50 day simple moving average is $44.02 and its 200 day simple moving average is $33.79. The stock has a market capitalization of $5.77 billion, a PE ratio of -13.13 and a beta of 1.50.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The company had revenue of $201.81 million for the quarter, compared to analysts’ expectations of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. As a group, sell-side analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays initiated coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price objective for the company. Morgan Stanley raised their price objective on shares of Guardant Health from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their target price on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Raymond James reissued an “outperform” rating and issued a $59.00 price target (up from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Finally, Guggenheim reaffirmed a “buy” rating and set a $56.00 price objective on shares of Guardant Health in a report on Monday, February 24th. Twenty research analysts have rated the stock with a buy rating, According to MarketBeat, Guardant Health presently has a consensus rating of “Buy” and a consensus price target of $48.40.

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.