Ameriprise Financial Inc. Boosts Stock Position in Guardant Health, Inc. (NASDAQ:GH)

Ameriprise Financial Inc. lifted its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 96.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,165 shares of the company's stock after purchasing an additional 76,124 shares during the period. Ameriprise Financial Inc. owned 0.13% of Guardant Health worth $4,739,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd bought a new position in Guardant Health in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new position in Guardant Health during the fourth quarter valued at $43,000. Kimelman & Baird LLC purchased a new stake in Guardant Health in the 4th quarter valued at about $58,000. NewEdge Advisors LLC grew its stake in Guardant Health by 13.5% in 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 during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Guardant Health during the fourth quarter valued at approximately $80,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stephens reaffirmed an "overweight" rating and set a $55.00 target price on shares of Guardant Health in a research note on Wednesday, March 26th. Mizuho initiated coverage on Guardant Health in a research report on Thursday, April 10th. They set an "outperform" rating and a $55.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Guardant Health from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Guggenheim reaffirmed a "buy" rating and set a $56.00 price target on shares of Guardant Health in a research note on Monday, February 24th. Finally, Stifel Nicolaus upped their target price on Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Twenty-one analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $52.32.

Insider Activity at Guardant Health

In other news, CEO Amirali Talasaz sold 106,784 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the completion of the sale, the chief executive officer now directly owns 2,202,672 shares of the company's stock, valued at approximately $107,952,954.72. The trade was a 4.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 107,132 shares of company stock valued at $5,248,393. Corporate insiders own 6.10% of the company's stock.

Guardant Health Stock Up 3.1%

Shares of GH traded up $1.17 during mid-day trading on Tuesday, hitting $39.17. 1,826,979 shares of the company's stock traded hands, compared to its average volume of 2,143,858. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $52.92. The business's 50-day moving average price is $43.22 and its 200-day moving average price is $40.31. The firm has a market capitalization of $4.85 billion, a P/E ratio of -11.00 and a beta of 1.49.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.08. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The company had revenue of $203.47 million for the quarter, compared to analysts' expectations of $189.91 million. During the same quarter last year, the company posted ($0.46) earnings per share. The firm's quarterly revenue was up 20.8% on a year-over-year basis. Sell-side analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share 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.