Baillie Gifford & Co. Has $215.60 Million Holdings in Guardant Health, Inc. (NASDAQ:GH)

Key Points

• Baillie Gifford & Co. reduced its stake in Guardant Health by 7.1%, selling 388,089 shares during the first quarter, bringing its ownership to about 4.09% valued at $215.6 million.
• Multiple research analysts have endorsed Guardant Health, with Canaccord Genuity and UBS raising their price targets and maintaining a "buy" rating, indicating strong expectations for the company's future performance.
• Guardant Health reported a revenue of $203.47 million for the last quarter, exceeding expectations and reflecting a 20.8% increase year-over-year despite EPS losses.

Baillie Gifford & Co. decreased its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,061,011 shares of the company's stock after selling 388,089 shares during the quarter. Baillie Gifford & Co. owned 4.09% of Guardant Health worth $215,599,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in GH. NewEdge Advisors LLC increased its position in shares of Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after purchasing an additional 230 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Guardant Health during the 4th quarter worth about $61,000. GF Fund Management CO. LTD. acquired a new stake in shares of Guardant Health during the 4th quarter worth about $79,000. Quantbot Technologies LP acquired a new stake in shares of Guardant Health during the 4th quarter worth about $80,000. Finally, TD Waterhouse Canada Inc. grew its holdings in Guardant Health by 126.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,929 shares of the company's stock worth $89,000 after acquiring an additional 1,634 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Stock Down 0.6%

Guardant Health stock traded down $0.28 during midday trading on Tuesday, hitting $43.99. 774,714 shares of the stock were exchanged, compared to its average volume of 2,245,753. The company has a fifty day simple moving average of $46.83 and a two-hundred day simple moving average of $44.86. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $53.42. The stock has a market capitalization of $5.45 billion, a PE ratio of -12.94 and a beta of 1.44.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.08. The firm had revenue of $203.47 million for the quarter, compared to the consensus estimate of $189.91 million. During the same period in the previous year, the business earned ($0.46) EPS. The firm's revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on GH shares. Scotiabank reissued an "outperform" rating on shares of Guardant Health in a report on Monday, May 5th. UBS Group increased their price objective on shares of Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Evercore ISI raised shares of Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. Canaccord Genuity Group increased their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, TD Securities increased their price objective on shares of Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $54.45.

Insider Buying and Selling at Guardant Health

In related news, 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 transaction of $157,573.14. Following the transaction, the director owned 11,150 shares of the company's stock, valued at $526,503. This trade represents a 23.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Musa Tariq sold 3,213 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $49.47, for a total transaction of $158,947.11. Following the sale, the director owned 7,190 shares in the company, valued at $355,689.30. This trade represents a 30.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 342,300 shares of company stock worth $17,082,238 over the last ninety days. 6.10% of the stock is owned by corporate insiders.

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.