Comerica Bank Has $1.60 Million Position in Guardant Health, Inc. (NASDAQ:GH)

Comerica Bank cut its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 23.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,225 shares of the company's stock after selling 15,611 shares during the period. Comerica Bank's holdings in Guardant Health were worth $1,595,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Guardant Health during the 4th quarter worth $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Guardant Health during the 4th quarter worth approximately $43,000. Kimelman & Baird LLC purchased a new stake in shares of Guardant Health during the 4th quarter valued at approximately $58,000. NewEdge Advisors LLC raised its position in shares of Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after buying an additional 230 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Guardant Health in the fourth quarter valued at approximately $80,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Buying and Selling

In other Guardant Health news, CEO Amirali Talasaz sold 106,784 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $49.01, for a total value of $5,233,483.84. Following the sale, the chief executive officer now owns 2,202,672 shares of the company's stock, valued at $107,952,954.72. This trade represents a 4.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 107,132 shares of company stock worth $5,249,355. Corporate insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Securities increased their target price on shares of Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stifel Nicolaus increased their price objective on shares of Guardant Health from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. UBS Group upped their price target on Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. The Goldman Sachs Group boosted their price objective on Guardant Health from $49.00 to $56.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Scotiabank restated an "outperform" rating on shares of Guardant Health in a report on Monday, May 5th. Twenty-one analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $52.32.

Guardant Health Stock Down 1.5%

Shares of Guardant Health stock traded down $0.64 during trading on Wednesday, hitting $40.72. The stock had a trading volume of 1,390,735 shares, compared to its average volume of 2,200,400. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $52.92. The stock has a 50 day simple moving average of $43.73 and a 200 day simple moving average of $39.26. The company has a market capitalization of $5.04 billion, a PE ratio of -11.44 and a beta of 1.49.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.08. The company had revenue of $203.47 million for the quarter, compared to the consensus estimate of $189.91 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The company's revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.46) EPS. As a group, equities analysts expect that Guardant Health, Inc. will post -2.9 earnings per share 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.