Eversept Partners LP Purchases New Stake in Guardant Health, Inc. (NASDAQ:GH)

Eversept Partners LP purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 276,036 shares of the company's stock, valued at approximately $8,433,000. Guardant Health makes up approximately 0.7% of Eversept Partners LP's holdings, making the stock its 26th largest position. Eversept Partners LP owned 0.22% of Guardant Health at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in 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 during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in 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 valued at $44,732,000 after buying an additional 238,037 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in Guardant Health by 15.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,464,213 shares of the company's stock valued at $44,732,000 after acquiring an additional 197,729 shares during the last quarter. Norges Bank acquired a new stake in Guardant Health during the 4th quarter worth $36,438,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Guardant Health by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,016,533 shares of the company's stock valued at $31,055,000 after acquiring an additional 13,395 shares during the last quarter. Institutional investors own 92.60% of the company's stock.

Guardant Health Price Performance

NASDAQ:GH traded up $0.89 on Friday, hitting $48.30. 1,405,230 shares of the company's stock were exchanged, compared to its average volume of 2,144,902. The firm has a 50-day moving average price of $43.37 and a 200-day moving average price of $37.42. Guardant Health, Inc. has a 52 week low of $17.52 and a 52 week high of $50.89. The company has a market cap of $5.96 billion, a P/E ratio of -13.57 and a beta of 1.45.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $201.81 million for the quarter, compared to the consensus estimate of $192.50 million. On average, research analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stephens reaffirmed an "overweight" rating and set a $55.00 price objective on shares of Guardant Health in a research note on Wednesday, March 26th. Canaccord Genuity Group upped their price target on Guardant Health from $42.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Barclays cut their price target on shares of Guardant Health from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group boosted their price objective on shares of Guardant Health from $49.00 to $56.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Stifel Nicolaus increased their target price on shares of Guardant Health from $45.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Guardant Health has an average rating of "Buy" and an average target price of $49.00.

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.