Amundi Raises Stock Holdings in Guardant Health, Inc. $GH

Key Points

• Amundi more than doubled its Guardant Health stake by 131.1% in the first quarter, bringing its holdings to 11,582 shares valued at approximately $1.07 million. Institutional investors collectively own 92.6% of the company.
• Guardant Health shares opened at $168.48, near their 12-month high of $176.58, after significant gains. Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $183.78.
• Company insiders sold 724,445 shares worth about $93.1 million during the latest quarter, including sizable sales by both CEOs under pre-arranged trading plans.

Amundi increased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 131.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,582 shares of the company's stock after acquiring an additional 6,571 shares during the period. Amundi's holdings in Guardant Health were worth $1,070,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Alyeska Investment Group L.P. bought a new position in shares of Guardant Health in the third quarter worth about $114,421,000. Price T Rowe Associates Inc. MD lifted its holdings in Guardant Health by 33.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company's stock valued at $575,670,000 after buying an additional 1,414,441 shares in the last quarter. Norges Bank purchased a new stake in Guardant Health in the 4th quarter valued at about $128,499,000. Summit Partners Public Asset Management LLC boosted its position in Guardant Health by 674.5% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company's stock valued at $87,019,000 after buying an additional 741,958 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Guardant Health by 89.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,205,701 shares of the company's stock worth $111,371,000 after acquiring an additional 569,766 shares in the last quarter. Institutional investors own 92.60% of the company's stock.

Guardant Health Stock Up 6.9%

Guardant Health stock opened at $168.48 on Friday. The business has a fifty day moving average of $147.02 and a two-hundred day moving average of $115.20. The firm has a market cap of $22.61 billion, a P/E ratio of -48.27 and a beta of 1.60. Guardant Health, Inc. has a twelve month low of $51.44 and a twelve month high of $176.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Guardant Health from $135.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Piper Sandler boosted their price target on Guardant Health from $135.00 to $193.00 and gave the company an "overweight" rating in a report on Tuesday. Bank of America increased their price objective on Guardant Health from $135.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $210.00 target price on shares of Guardant Health in a research report on Friday, July 31st. Finally, Royal Bank Of Canada upped their target price on Guardant Health from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $183.78.

Insider Transactions at Guardant Health

In related news, CEO Amirali Talasaz sold 210,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the completion of the sale, the chief executive officer owned 1,886,504 shares of the company's stock, valued at $207,307,924.56. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helmy Eltoukhy sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the completion of the sale, the chief executive officer owned 2,012,919 shares of the company's stock, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 724,445 shares of company stock worth $93,089,291. Company insiders own 5.60% of the company's stock.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health's mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company's flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

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