Guardant Health (NASDAQ:GH) Shares Down 3.8%

Guardant Health, Inc. (NASDAQ:GH) traded down 3.8% during mid-day trading on Tuesday . The stock traded as low as $22.56 and last traded at $22.60. 1,249,853 shares were traded during mid-day trading, a decline of 41% from the average session volume of 2,122,850 shares. The stock had previously closed at $23.49.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Bank of America boosted their price objective on Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. upped their price target on Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Guardant Health in a research report on Monday, June 3rd. They issued a “buy” rating and a $32.00 price objective for the company. TD Cowen upped their target price on shares of Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, BTIG Research raised their price target on shares of Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.31.

Guardant Health Trading Down 4.0 %

The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -5.99 and a beta of 1.11. The business’s fifty day simple moving average is $28.68 and its 200 day simple moving average is $25.13. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The business had revenue of $177.24 million for the quarter, compared to the consensus estimate of $162.59 million. During the same period in the prior year, the company earned ($0.67) EPS. Guardant Health’s quarterly revenue was up 29.2% on a year-over-year basis. On average, research analysts predict that Guardant Health, Inc. will post -3.3 EPS for the current year.

Institutional Investors Weigh In On Guardant Health

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in Guardant Health during the 2nd quarter worth $44,000. Manchester Capital Management LLC acquired a new stake in shares of Guardant Health in the 1st quarter worth approximately $57,000. Canton Hathaway LLC bought a new position in shares of Guardant Health in the second quarter valued at approximately $59,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Guardant Health during the second quarter valued at approximately $71,000. Finally, EntryPoint Capital LLC bought a new stake in Guardant Health during the first quarter worth approximately $75,000. 92.60% of the stock is currently owned by institutional investors.

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.