Aberdeen Group plc Sells 189,988 Shares of Guardant Health, Inc. $GH

Key Points

• Aberdeen Group plc has reduced its holdings in Guardant Health, Inc. by 42.9%, now owning approximately 252,963 shares valued at about $10.8 million.
• Guardant Health reported a revenue increase of 31.0% year-over-year, achieving $232.09 million for the last quarter, while its EPS of ($0.44) exceeded analysts' expectations.
• Institutional investors currently hold 92.60% of Guardant Health's stock, highlighting significant institutional interest in the company.

Aberdeen Group plc cut its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 42.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 252,963 shares of the company's stock after selling 189,988 shares during the period. Aberdeen Group plc owned 0.20% of Guardant Health worth $10,776,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GH. Janney Montgomery Scott LLC acquired a new position in Guardant Health in the first quarter valued at $232,000. Stifel Financial Corp lifted its holdings in shares of Guardant Health by 25.1% during the 4th quarter. Stifel Financial Corp now owns 49,927 shares of the company's stock worth $1,525,000 after acquiring an additional 10,006 shares during the period. Teacher Retirement System of Texas purchased a new stake in Guardant Health in the first quarter valued at approximately $866,000. Fifth Third Bancorp acquired a new position in Guardant Health during the first quarter worth approximately $279,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Guardant Health in the 4th quarter valued at $2,211,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore ISI raised Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Canaccord Genuity Group lifted their price objective on Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Scotiabank boosted their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Piper Sandler reissued an "overweight" rating and issued a $60.00 target price (up previously from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus lifted their target price on shares of Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $57.50.

Guardant Health Stock Up 0.2%

Shares of GH traded up $0.1040 on Monday, hitting $61.5040. The company's stock had a trading volume of 322,785 shares, compared to its average volume of 2,383,553. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of -18.30 and a beta of 1.43. The firm's fifty day moving average price is $50.26 and its 200-day moving average price is $45.96. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $62.81.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $232.09 million for the quarter, compared to the consensus estimate of $211.19 million. The firm's revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Insider Transactions at Guardant Health

In other news, Director Meghan V. Joyce sold 3,337 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $47.22, for a total value of $157,573.14. Following the completion of the transaction, the director owned 11,150 shares in the company, valued at $526,503. This trade represents a 23.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myrtle S. Potter sold 2,626 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.70, for a total value of $130,512.20. Following the transaction, the director directly owned 18,180 shares in the company, valued at $903,546. This trade represents a 12.62% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,542 shares of company stock worth $11,852,491. Corporate insiders own 6.10% of the company's stock.

About Guardant Health

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.