Osterweis Capital Management Inc. Acquires New Holdings in Guardant Health, Inc. $GH

Key Points

• Osterweis Capital Management Inc. acquired 296,571 shares of Guardant Health, valued at approximately $12.63 million, representing a 0.24% stake in the company.
• Guardant Health reported a revenue of $232.09 million in the last quarter, exceeding analysts' expectations, while also beating EPS estimates.
• Wall Street analysts have issued a largely positive outlook, with numerous firms raising their price targets and ratings for Guardant Health stock, currently averaging a target price of $57.50.

Osterweis Capital Management Inc. acquired a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 296,571 shares of the company's stock, valued at approximately $12,634,000. Osterweis Capital Management Inc. owned approximately 0.24% of Guardant Health at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GH. NewEdge Advisors LLC increased 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 purchasing an additional 230 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Guardant Health during the 4th quarter valued at approximately $61,000. GF Fund Management CO. LTD. bought a new position in shares of Guardant Health during the 4th quarter valued at approximately $79,000. TD Waterhouse Canada Inc. increased its position in shares of Guardant Health by 126.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,929 shares of the company's stock valued at $89,000 after purchasing an additional 1,634 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Guardant Health during the 1st quarter valued at approximately $97,000. Institutional investors own 92.60% of the company's stock.

Insider Buying and Selling at Guardant Health

In related news, CEO Amirali Talasaz sold 100,000 shares of the firm's 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 of the company's stock, valued at $100,326,710.40. This trade represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Myrtle S. Potter sold 2,626 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.70, for a total value of $130,512.20. Following the sale, the director directly owned 18,180 shares in the company, valued at approximately $903,546. The trade was a 12.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,542 shares of company stock worth $11,852,491. Insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GH shares. Canaccord Genuity Group boosted their target price on Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Evercore ISI raised Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Scotiabank upped their price objective on Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Barclays upped their price objective on Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus upped their price objective on Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $57.50.

Guardant Health Stock Performance

Guardant Health stock traded up $0.1770 during mid-day trading on Monday, hitting $61.5770. The company's stock had a trading volume of 616,436 shares, compared to its average volume of 2,385,415. The company has a 50 day moving average of $50.26 and a 200-day moving average of $45.96. The stock has a market cap of $7.68 billion, a PE ratio of -18.46 and a beta of 1.43. Guardant Health, Inc. has a one year low of $20.14 and a one year high of $62.81.

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 analysts' consensus estimates 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. During the same period in the previous year, the company posted ($0.84) EPS. Guardant Health's quarterly revenue was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

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.