Canada Pension Plan Investment Board Buys 77,300 Shares of Guardant Health, Inc. (NASDAQ:GH)

Canada Pension Plan Investment Board lifted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 77.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,500 shares of the company's stock after buying an additional 77,300 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of Guardant Health worth $5,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Guardant Health in the fourth quarter worth about $36,438,000. Lord Abbett & CO. LLC bought a new position in Guardant Health in the 3rd quarter valued at $15,624,000. Vanguard Group Inc. grew its position in shares of Guardant Health by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company's stock valued at $368,205,000 after purchasing an additional 350,606 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Guardant Health by 19.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after purchasing an additional 238,037 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Guardant Health by 2,235.6% during the fourth quarter. Prudential Financial Inc. now owns 229,870 shares of the company's stock valued at $7,023,000 after buying an additional 220,028 shares during the period. 92.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Guggenheim restated a "buy" rating and issued a $56.00 price objective on shares of Guardant Health in a research report on Monday, February 24th. Stephens reiterated an "overweight" rating and set a $55.00 target price on shares of Guardant Health in a research report on Wednesday, March 26th. The Goldman Sachs Group increased their price target on shares of Guardant Health from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Piper Sandler lifted their price objective on shares of Guardant Health from $34.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $49.00.

Guardant Health Price Performance

GH traded up $0.89 during trading on Friday, hitting $48.30. 1,405,230 shares of the stock traded hands, compared to its average volume of 2,144,902. The firm has a market capitalization of $5.96 billion, a P/E ratio of -13.57 and a beta of 1.45. Guardant Health, Inc. has a 12-month low of $17.52 and a 12-month high of $50.89. The firm has a 50-day moving average of $43.37 and a 200 day moving average of $37.42.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The firm had revenue of $201.81 million for the quarter, compared to analysts' expectations of $192.50 million. As a group, equities analysts predict that Guardant Health, Inc. will post -2.9 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.