Adage Capital Partners GP L.L.C. Boosts Stake in Guardant Health, Inc. $GH

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Guardant Health by 202.6%, acquiring over 566,949 shares, resulting in holdings valued at approximately $36 million.
• Guardant Health recently reported a quarterly revenue of $232.09 million, exceeding analyst expectations, and improved its earnings per share (EPS) from a loss of ($0.84) to ($0.44).
• Institutional investors hold a substantial 92.60% of Guardant Health's stock, with several hedge funds acquiring new stakes or increasing their positions in recent quarters.

Adage Capital Partners GP L.L.C. boosted its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 202.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 846,749 shares of the company's stock after purchasing an additional 566,949 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.68% of Guardant Health worth $36,072,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in Guardant Health in the 1st quarter valued at $54,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Guardant Health during the 4th quarter worth $61,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Guardant Health during the 1st quarter worth $97,000. CWM LLC grew its holdings in shares of Guardant Health by 180.3% during the 1st quarter. CWM LLC now owns 2,296 shares of the company's stock worth $98,000 after purchasing an additional 1,477 shares during the period. Finally, Nkcfo LLC purchased a new position in shares of Guardant Health during the 1st quarter worth $107,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Guardant Health news, Director Myrtle S. Potter sold 2,626 shares of Guardant Health 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 approximately $903,546. This trade represents a 12.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Meghan V. Joyce sold 3,337 shares of Guardant Health stock in a transaction that occurred on Friday, June 13th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,258 shares of company stock worth $5,880,919. 6.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GH shares. Mizuho increased their price target on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. Raymond James Financial increased their price target on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Scotiabank increased their price target on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Finally, BTIG Research increased their target price on Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating and seventeen have given a Buy rating to the company. According to MarketBeat.com, Guardant Health presently has a consensus rating of "Buy" and a consensus price target of $58.24.

Guardant Health Price Performance

Shares of NASDAQ GH traded down $0.80 during midday trading on Tuesday, hitting $59.38. 983,980 shares of the company's stock were exchanged, compared to its average volume of 2,383,723. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $68.00. The company has a market cap of $7.40 billion, a PE ratio of -17.73 and a beta of 1.45. The firm's fifty day simple moving average is $53.28 and its 200-day simple moving average is $47.30.

Guardant Health (NASDAQ:GH - Get Free Report) last released 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 analysts' expectations of $211.19 million. The company's quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. Equities analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

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.