7,149 Shares in Guardant Health, Inc. $GH Purchased by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management purchased 7,149 Guardant Health shares worth approximately $1.07 million, while institutional investors collectively own 92.6% of the company.
• Wall Street remains broadly bullish: 23 analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $183.78.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year, and narrowed its loss to $0.42 per share versus expectations of a $0.76 loss. However, insiders sold 546,224 shares valued at about $80.4 million during the quarter.

Perigon Wealth Management LLC acquired a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 7,149 shares of the company's stock, valued at approximately $1,073,000.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company's stock worth $3,012,000 after purchasing an additional 25,831 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Guardant Health in the first quarter valued at approximately $274,000. Sei Investments Co. increased its holdings in shares of Guardant Health by 15.8% in the second quarter. Sei Investments Co. now owns 77,308 shares of the company's stock valued at $4,023,000 after purchasing an additional 10,538 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Guardant Health by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company's stock valued at $32,922,000 after purchasing an additional 54,284 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Guardant Health by 56.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company's stock worth $5,800,000 after buying an additional 40,209 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Buying and Selling at Guardant Health

In related news, CEO Amirali Talasaz sold 143,028 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $151.54, for a total transaction of $21,674,463.12. Following the completion of the transaction, the chief executive officer owned 1,881,336 shares of the company's stock, valued at approximately $285,097,657.44. This trade represents a 7.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Terilyn J. Monroe sold 46,300 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the transaction, the insider directly owned 22,979 shares of the company's stock, valued at $3,794,292.48. The trade was a 66.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 546,224 shares of company stock valued at $80,435,493. 5.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GH. Canaccord Genuity Group boosted their price objective on Guardant Health from $135.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Bank of America boosted their target price on shares of Guardant Health from $135.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Guardant Health in a research note on Friday, July 17th. BTIG Research raised their price target on shares of Guardant Health from $190.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $210.00 price target on shares of Guardant Health in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $183.78.

Guardant Health Trading Down 1.0%

NASDAQ GH opened at $160.12 on Wednesday. The stock has a fifty day simple moving average of $151.74 and a 200-day simple moving average of $117.58. The stock has a market cap of $21.49 billion, a PE ratio of -45.88 and a beta of 1.60. Guardant Health, Inc. has a twelve month low of $53.40 and a twelve month high of $176.58.

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

Guardant Health 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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