Guardant Health, Inc. (NASDAQ:GH) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Guardant Health, Inc. (NASDAQ:GH) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $39.67.

Several equities analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. TD Cowen lifted their price target on shares of Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price target on shares of Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, UBS Group lifted their price target 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.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $22.12 on Wednesday. The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40. The firm’s 50-day simple moving average is $27.74 and its 200-day simple moving average is $25.26. Guardant Health has a twelve month low of $15.81 and a twelve month high of $37.04. The firm has a market cap of $2.71 billion, a P/E ratio of -5.64 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $162.59 million. During the same quarter last year, the firm posted ($0.67) earnings per share. Guardant Health’s revenue was up 29.2% on a year-over-year basis. As a group, research analysts expect that Guardant Health will post -3.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

Several institutional investors have recently modified their holdings of GH. Capital International Investors grew its holdings in Guardant Health by 36.7% during the fourth quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock valued at $108,249,000 after purchasing an additional 1,074,452 shares during the period. Cadian Capital Management LP acquired a new position in Guardant Health during the fourth quarter valued at approximately $19,206,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Guardant Health during the first quarter valued at approximately $8,300,000. Bank of New York Mellon Corp grew its holdings in Guardant Health by 31.8% during the second quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock valued at $36,973,000 after purchasing an additional 309,157 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Guardant Health by 2.7% during the first quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock valued at $235,925,000 after purchasing an additional 305,372 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.