Adalta Capital Management LLC Cuts Position in Guardant Health, Inc. $GH

Key Points

• Adalta Capital Management LLC reduced its ownership in Guardant Health, Inc. by 6.7% to hold approximately 63,663 shares, making it the 19th largest holding in their portfolio.
• Guardant Health's quarterly earnings showed a loss of ($0.44) EPS, exceeding analyst expectations of ($0.52) EPS, with revenue up 31.0% year-over-year to $232.09 million.
• Several institutional investors, including American Century Companies Inc. and PNC Financial Services Group Inc., have increased their stakes in Guardant Health, reflecting strong interest as hedge funds own 92.60% of the company's stock.

Adalta Capital Management LLC lessened its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,663 shares of the company's stock after selling 4,600 shares during the period. Guardant Health comprises about 1.4% of Adalta Capital Management LLC's portfolio, making the stock its 19th largest holding. Adalta Capital Management LLC owned 0.05% of Guardant Health worth $2,712,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. American Century Companies Inc. increased its stake in shares of Guardant Health by 0.3% in the 1st quarter. American Century Companies Inc. now owns 104,206 shares of the company's stock valued at $4,439,000 after purchasing an additional 282 shares in the last quarter. HighTower Advisors LLC increased its stake in Guardant Health by 0.9% during the 1st quarter. HighTower Advisors LLC now owns 51,107 shares of the company's stock worth $2,177,000 after buying an additional 469 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Guardant Health by 25.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company's stock worth $112,000 after buying an additional 537 shares in the last quarter. GF Fund Management CO. LTD. increased its stake in Guardant Health by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,164 shares of the company's stock worth $135,000 after buying an additional 570 shares in the last quarter. Finally, Xponance Inc. increased its stake in Guardant Health by 6.8% during the 1st quarter. Xponance Inc. now owns 9,116 shares of the company's stock worth $388,000 after buying an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company's stock.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $60.13 on Monday. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $68.00. The stock has a market cap of $7.50 billion, a P/E ratio of -17.95 and a beta of 1.45. The stock's 50 day simple moving average is $53.12 and its 200-day simple moving average is $47.18.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.08. The business had revenue of $232.09 million during the quarter, compared to analyst estimates of $211.19 million. During the same quarter in the prior year, the company posted ($0.84) earnings per share. The company's revenue was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. As a group, research analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Transactions at Guardant Health

In related news, CEO Amirali Talasaz sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total value of $5,088,000.00. Following the transaction, the chief executive officer directly owned 1,971,830 shares in the company, valued at approximately $100,326,710.40. This represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Musa Tariq sold 3,213 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total value of $158,947.11. Following the completion of the transaction, the director owned 7,190 shares in the company, valued at $355,689.30. This represents a 30.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,258 shares of company stock valued at $5,880,919 in the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GH has been the subject of several research reports. BTIG Research boosted their price objective on Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. Scotiabank boosted their price objective on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Raymond James Financial boosted their price objective on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Mizuho boosted their price objective on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Guardant Health currently has a consensus rating of "Buy" and an average target price of $58.24.

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.

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