Strs Ohio Purchases New Stake in Guardant Health, Inc. $GH

Key Points

• Strs Ohio has acquired 19,000 shares of Guardant Health, Inc. for approximately $809,000, marking a new position for the fund.
• Guardant Health has reported a revenue increase of 31% year-over-year, totaling $232.09 million, and posted an earnings per share (EPS) of ($0.44), beating estimates.
• Several analysts have updated their target prices for Guardant Health, with BTIG Research raising it to $70.00 and Scotiabank to $60.00, indicating strong investor confidence in the stock.

Strs Ohio bought a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 19,000 shares of the company's stock, valued at approximately $809,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SVB Wealth LLC bought a new position in Guardant Health during the 1st quarter valued at about $54,000. GF Fund Management CO. LTD. bought a new stake in shares of Guardant Health during the fourth quarter worth approximately $79,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Guardant Health during the first quarter worth approximately $97,000. CWM LLC raised its stake in shares of Guardant Health by 180.3% during the first quarter. CWM LLC now owns 2,296 shares of the company's stock worth $98,000 after buying an additional 1,477 shares during the last quarter. Finally, Nkcfo LLC acquired a new position in Guardant Health during the first quarter valued at approximately $107,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Stock Up 2.3%

GH traded up $1.35 during trading hours on Tuesday, hitting $61.13. 103,389 shares of the company's stock were exchanged, compared to its average volume of 2,375,819. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $68.00. The stock's 50-day moving average is $54.65 and its two-hundred day moving average is $48.41. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -18.19 and a beta of 1.45.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.08. The firm had revenue of $232.09 million for the quarter, compared to the consensus estimate of $211.19 million. The business's revenue was up 31.0% compared to the same quarter last year. During the same period last year, the company posted ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current year.

Insider Activity at Guardant Health

In other Guardant Health news, Director Medina Manuel Hidalgo sold 2,165 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $54.16, for a total transaction of $117,256.40. Following the sale, the director directly owned 851 shares in the company, valued at $46,090.16. This represents a 71.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amirali Talasaz sold 100,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the sale, the chief executive officer owned 1,971,830 shares in the company, valued at $100,326,710.40. The trade was a 4.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 402,691 shares of company stock worth $23,069,965. Corporate insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company began coverage on shares of Guardant Health in a report on Monday. They set an "overweight" rating and a $72.00 price objective for the company. Raymond James Financial upped their price target on shares of Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. BTIG Research reiterated a "buy" rating and issued a $70.00 price target on shares of Guardant Health in a report on Monday. Mizuho upped their price target on shares of Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Finally, Evercore ISI upgraded shares of Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $59.00.

Guardant Health 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.