Hsbc Holdings PLC Has $2.01 Million Stake in Guardant Health, Inc. (NASDAQ:GH)

Hsbc Holdings PLC reduced its holdings in Guardant Health, Inc. (NASDAQ:GH) by 24.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,746 shares of the company’s stock after selling 22,421 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of Guardant Health worth $2,014,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GH. Principal Financial Group Inc. grew its stake in shares of Guardant Health by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 13,045 shares of the company’s stock valued at $353,000 after purchasing an additional 1,240 shares during the last quarter. Oak Ridge Investments LLC boosted its position in Guardant Health by 8.5% in the 1st quarter. Oak Ridge Investments LLC now owns 18,540 shares of the company’s stock valued at $382,000 after buying an additional 1,451 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of Guardant Health in the 2nd quarter valued at $59,000. Arizona State Retirement System raised its position in shares of Guardant Health by 7.5% during the second quarter. Arizona State Retirement System now owns 34,073 shares of the company’s stock worth $984,000 after acquiring an additional 2,383 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Guardant Health by 9.4% during the first quarter. ProShare Advisors LLC now owns 29,317 shares of the company’s stock valued at $605,000 after acquiring an additional 2,518 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GH. 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 report on Thursday, July 18th. UBS Group increased their price objective on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Craig Hallum lifted their target price on shares of Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group increased their price target on Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Canaccord Genuity Group lifted their price objective on Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and a consensus target price of $39.31.

Guardant Health Stock Up 1.9 %

Guardant Health stock opened at $22.73 on Friday. The company has a 50 day moving average of $28.08 and a 200-day moving average of $25.11. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. Guardant Health, Inc. has a twelve month low of $15.81 and a twelve month high of $37.04. The stock has a market capitalization of $2.80 billion, a PE ratio of -5.80 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last announced its earnings results 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 return on equity of 418.21% and a negative net margin of 76.23%. The company had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. During the same period in the previous year, the company posted ($0.67) earnings per share. Guardant Health’s revenue for the quarter was up 29.2% on a year-over-year basis. On average, equities research analysts anticipate that Guardant Health, Inc. will post -3.31 EPS for the current fiscal 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.