Geode Capital Management LLC Purchases 29,686 Shares of Guardant Health, Inc. (NASDAQ:GH)

Geode Capital Management LLC grew its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,822,220 shares of the company’s stock after acquiring an additional 29,686 shares during the quarter. Geode Capital Management LLC’s holdings in Guardant Health were worth $64,754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of GH. JNBA Financial Advisors acquired a new position in shares of Guardant Health during the third quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in Guardant Health during the 3rd quarter valued at $34,000. Quarry LP purchased a new position in Guardant Health during the 2nd quarter worth $44,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Guardant Health in the 2nd quarter worth $71,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Guardant Health by 168.1% in the third quarter. Nisa Investment Advisors LLC now owns 3,434 shares of the company’s stock valued at $79,000 after purchasing an additional 2,153 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Meghan V. Joyce sold 2,896 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the transaction, the director now directly owns 7,648 shares in the company, valued at $228,675.20. The trade was a 27.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the sale, the director now directly owns 2,676 shares of the company’s stock, valued at $93,660. This represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,432 shares of company stock valued at $175,423. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

GH has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Leerink Partners dropped their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Sanford C. Bernstein reduced their price objective on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Guardant Health currently has a consensus rating of “Buy” and an average target price of $40.60.

Guardant Health Stock Performance

NASDAQ GH opened at $31.67 on Friday. The firm has a market cap of $3.91 billion, a P/E ratio of -7.47 and a beta of 1.26. The company has a quick ratio of 5.85, a current ratio of 6.22 and a debt-to-equity ratio of 16.70. The company’s 50 day moving average is $29.13 and its 200-day moving average is $28.35. Guardant Health, Inc. has a 12-month low of $15.81 and a 12-month high of $38.53.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The business had revenue of $191.48 million for the quarter, compared to the consensus estimate of $170.49 million. During the same period in the previous year, the firm earned ($0.73) EPS. The company’s revenue was up 33.9% compared to the same quarter last year. Sell-side analysts predict that Guardant Health, Inc. will post -3.44 earnings per share 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.