Guardant Health, Inc. (NASDAQ:GH) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Guardant Health has a “Moderate Buy” consensus rating from 25 analysts: 23 recommend buying, one recommends selling, and one gives a strong-buy rating. The average 12-month price target is $183.78.
• Recent analysts raised their targets, including Piper Sandler to $193 and Barclays to $200, while maintaining bullish ratings on the stock.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year, and an adjusted loss of $0.42 per share that beat expectations. However, insiders sold $81.2 million of shares during the last quarter.

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-five research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twenty-three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $183.7826.

A number of analysts recently commented on GH shares. Wolfe Research initiated coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $150.00 target price for the company. Piper Sandler upped their price target on shares of Guardant Health from $135.00 to $193.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. TD Cowen reaffirmed a "buy" rating on shares of Guardant Health in a report on Tuesday, August 25th. Barclays lifted their price objective on shares of Guardant Health from $150.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, UBS Group set a $150.00 price objective on shares of Guardant Health in a report on Wednesday, June 24th.

Insider Activity at Guardant Health

In other news, Director Medina Manuel Hidalgo sold 1,700 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $164.24, for a total value of $279,208.00. Following the transaction, the director directly owned 4,556 shares of the company's stock, valued at approximately $748,277.44. This represents a 27.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Freeman sold 63,605 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $169.58, for a total value of $10,786,135.90. Following the completion of the transaction, the insider owned 65,374 shares of the company's stock, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 538,318 shares of company stock worth $81,232,073 in the last quarter. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently bought and sold shares of GH. GAMMA Investing LLC lifted its stake in Guardant Health by 14.5% during the 2nd quarter. GAMMA Investing LLC now owns 965 shares of the company's stock valued at $145,000 after acquiring an additional 122 shares during the period. First Pacific Financial boosted its holdings in shares of Guardant Health by 33.1% in the 1st quarter. First Pacific Financial now owns 559 shares of the company's stock valued at $52,000 after acquiring an additional 139 shares during the last quarter. ABS Investment Management LLC acquired a new stake in shares of Guardant Health in the second quarter worth $345,069,000. Xponance LLC increased its stake in shares of Guardant Health by 2.1% in the fourth quarter. Xponance LLC now owns 9,630 shares of the company's stock worth $984,000 after acquiring an additional 199 shares during the period. Finally, Danske Bank A S increased its stake in shares of Guardant Health by 20.0% in the fourth quarter. Danske Bank A S now owns 1,200 shares of the company's stock worth $123,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Stock Performance

Guardant Health stock opened at $164.41 on Wednesday. The stock has a 50-day moving average of $158.77 and a two-hundred day moving average of $121.64. Guardant Health has a one year low of $53.40 and a one year high of $176.58. The stock has a market cap of $22.06 billion, a PE ratio of -47.11 and a beta of 1.57.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million for the quarter, compared to analysts' expectations of $314.23 million. During the same quarter in the previous year, the firm posted ($0.44) EPS. Guardant Health's revenue was up 44.3% on a year-over-year basis. As a group, sell-side analysts predict that Guardant Health will post -2.98 EPS for the current fiscal year.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health's mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company's flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

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