Evercore ISI Raises Guardant Health (NASDAQ:GH) Price Target to $68.00

Key Points

• Evercore ISI raised the price target for Guardant Health from $60.00 to $68.00, indicating a potential upside of 8.61% from its current stock price.
• Various brokerages have shifted their ratings for Guardant Health, with Barclays setting a target of $70.00 and Canaccord Genuity raising it to $75.00.
• Insider transactions include CEO Helmy Eltoukhy selling 300,000 shares of Guardant Health, which marked a 12.38% decrease in his stock ownership.

Guardant Health (NASDAQ:GH - Get Free Report) had its price target hoisted by investment analysts at Evercore ISI from $60.00 to $68.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Evercore ISI's price objective suggests a potential upside of 8.61% from the stock's current price.

A number of other brokerages have also recently weighed in on GH. Raymond James Financial increased their target price on shares of Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Barclays raised their target price on shares of Guardant Health from $60.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Canaccord Genuity Group upped their target price on Guardant Health from $65.00 to $75.00 and gave the company a "buy" rating in a report on Friday, September 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Guardant Health in a report on Saturday, September 27th. Finally, Cowen restated a "buy" rating on shares of Guardant Health in a research note on Thursday, September 25th. Twenty-three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $65.86.

Guardant Health Trading Down 1.2%

GH stock traded down $0.77 during mid-day trading on Tuesday, hitting $62.61. 548,169 shares of the company were exchanged, compared to its average volume of 2,390,636. The company has a market capitalization of $7.81 billion, a PE ratio of -18.67 and a beta of 1.53. The firm has a fifty day simple moving average of $57.68 and a 200 day simple moving average of $49.69. Guardant Health has a twelve month low of $20.14 and a twelve month high of $68.00.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.08. The firm had revenue of $232.09 million for the quarter, compared to analyst estimates of $211.19 million. During the same quarter in the previous year, the company earned ($0.84) EPS. The company's quarterly revenue was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Guardant Health will post -2.9 earnings per share for the current year.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 300,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the sale, the chief executive officer directly owned 2,123,499 shares in the company, valued at approximately $126,242,015.55. The trade was a 12.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $54.16, for a total transaction of $117,256.40. Following the completion of the sale, the director directly owned 851 shares of the company's stock, valued at approximately $46,090.16. This represents a 71.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 302,691 shares of company stock worth $17,981,965. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GH. Signaturefd LLC increased its holdings in shares of Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company's stock valued at $33,000 after buying an additional 213 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Guardant Health by 0.3% in the 1st quarter. American Century Companies Inc. now owns 104,206 shares of the company's stock worth $4,439,000 after acquiring an additional 282 shares during the last quarter. IFP Advisors Inc raised its position in shares of Guardant Health by 120.1% during the second quarter. IFP Advisors Inc now owns 612 shares of the company's stock worth $33,000 after purchasing an additional 334 shares during the period. Main Management ETF Advisors LLC lifted its holdings in shares of Guardant Health by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 21,257 shares of the company's stock valued at $1,106,000 after purchasing an additional 348 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Guardant Health by 0.9% during the first quarter. HighTower Advisors LLC now owns 51,107 shares of the company's stock valued at $2,177,000 after purchasing an additional 469 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Company Profile

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.

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