Guardant Health, Inc. (NASDAQ:GH) Receives Average Rating of “Buy” from Brokerages

Guardant Health, Inc. (NASDAQ:GH) has been assigned an average rating of “Buy” from the twenty analysts that are currently covering the stock, MarketBeat reports. Twenty analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $48.40.

GH has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Scotiabank increased their price target on Guardant Health from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. Raymond James restated an “outperform” rating and set a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a report on Friday, February 21st. The Goldman Sachs Group increased their target price on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley upped their price target on shares of Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Guardant Health by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock valued at $377,000 after purchasing an additional 391 shares during the period. Arizona State Retirement System boosted its holdings in Guardant Health by 1.1% during the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock worth $1,089,000 after buying an additional 403 shares in the last quarter. Jones Financial Companies Lllp grew its position in Guardant Health by 43.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock valued at $82,000 after buying an additional 817 shares during the period. Finally, Fiduciary Alliance LLC increased its holdings in Guardant Health by 7.6% in the fourth quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock valued at $363,000 after buying an additional 836 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Trading Down 0.6 %

Shares of NASDAQ:GH opened at $46.46 on Wednesday. The company has a 50-day moving average price of $44.20 and a 200 day moving average price of $33.95. Guardant Health has a 12 month low of $15.81 and a 12 month high of $50.89. The company has a market cap of $5.73 billion, a price-to-earnings ratio of -13.05 and a beta of 1.50.

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

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.