52,940 Shares in Guardant Health, Inc. $GH Bought by Algert Global LLC

Key Points

• Algert Global LLC acquired 52,940 shares of Guardant Health, valued at approximately $2,255,000, marking a significant investment in the company during the first quarter.
• Insider trading activity revealed that Director Ian T. Clark sold 6,672 shares for around $322,791, representing a 40.38% decrease in ownership.
• Analysts have generally positive sentiment towards Guardant Health, with several firms recently increasing their price targets, leading to a consensus average price target of $57.50 for the stock.

Algert Global LLC purchased a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 52,940 shares of the company's stock, valued at approximately $2,255,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GH. NewEdge Advisors LLC lifted its position in Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after purchasing an additional 230 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Guardant Health during the fourth quarter valued at $61,000. CWM LLC lifted its position in Guardant Health by 180.3% during the first quarter. CWM LLC now owns 2,296 shares of the company's stock valued at $98,000 after purchasing an additional 1,477 shares in the last quarter. Nkcfo LLC bought a new stake in Guardant Health during the first quarter valued at about $107,000. Finally, GF Fund Management CO. LTD. bought a new stake in Guardant Health during the fourth quarter valued at about $79,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Guardant Health

In other Guardant Health news, Director Myrtle S. Potter sold 2,626 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $49.70, for a total transaction of $130,512.20. Following the completion of the sale, the director owned 18,180 shares in the company, valued at $903,546. This represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ian T. Clark sold 6,672 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $48.38, for a total value of $322,791.36. Following the sale, the director owned 9,851 shares of the company's stock, valued at approximately $476,591.38. This represents a 40.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,542 shares of company stock valued at $11,852,491 over the last 90 days. Insiders own 6.10% of the company's stock.

Guardant Health Stock Performance

NASDAQ GH traded up $0.48 on Monday, reaching $61.88. 1,523,316 shares of the stock traded hands, compared to its average volume of 2,391,196. The company has a fifty day moving average price of $50.26 and a 200-day moving average price of $45.96. The company has a market cap of $7.72 billion, a price-to-earnings ratio of -18.47 and a beta of 1.43. Guardant Health, Inc. has a 12 month low of $20.14 and a 12 month high of $62.81.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating 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. The company's revenue for the quarter was up 31.0% on a year-over-year basis. During the same period last year, the firm earned ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Canaccord Genuity Group raised their price target on Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Piper Sandler reissued an "overweight" rating and set a $60.00 price target (up from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Stifel Nicolaus raised their price target on Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Evercore ISI raised Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. Finally, Mizuho raised their price target on Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, June 13th. 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, the company presently has a consensus rating of "Buy" and a consensus price target of $57.50.

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.