Bamco Inc. NY Makes New $2.48 Million Investment in Guardant Health, Inc. $GH

Bamco Inc. NY bought a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 16,500 shares of the company's stock, valued at approximately $2,475,000.

A number of other institutional investors have also modified their holdings of GH. Vanguard Group Inc. lifted its stake in shares of Guardant Health by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 12,160,768 shares of the company's stock worth $1,242,101,000 after acquiring an additional 251,939 shares during the period. Price T Rowe Associates Inc. MD increased its position 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 worth $575,670,000 after purchasing an additional 1,414,441 shares during the period. Franklin Resources Inc. boosted its stake in shares of Guardant Health by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company's stock valued at $343,348,000 after buying an additional 435,232 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Guardant Health by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company's stock valued at $328,297,000 after buying an additional 277,001 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Guardant Health by 3.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,441,730 shares of the company's stock worth $249,398,000 after acquiring an additional 72,162 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Stock Down 1.4%

Shares of GH stock opened at $168.52 on Friday. The stock has a market cap of $22.62 billion, a P/E ratio of -48.29 and a beta of 1.60. Guardant Health, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $176.58. The business has a fifty day simple moving average of $156.90 and a 200-day simple moving average of $120.47.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analysts' expectations of $314.23 million. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. Guardant Health's quarterly revenue was up 44.3% on a year-over-year basis. On average, sell-side analysts anticipate that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ian T. Clark sold 14,180 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the completion of the transaction, the director directly owned 2,975 shares of the company's stock, valued at $472,787. This trade represents a 82.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amirali Talasaz sold 37,500 shares of Guardant Health stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $169.16, for a total value of $6,343,500.00. Following the transaction, the chief executive officer owned 37,500 shares of the company's stock, valued at $6,343,500. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 548,318 shares of company stock valued at $82,501,873. 5.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on GH. Stephens increased their price objective on Guardant Health from $170.00 to $195.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $210.00 price target on shares of Guardant Health in a research note on Friday, July 31st. UBS Group set a $150.00 price target on shares of Guardant Health in a report on Wednesday, June 24th. TD Cowen reiterated a "buy" rating on shares of Guardant Health in a research note on Tuesday. Finally, Sanford C. Bernstein raised their price objective on shares of Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Guardant Health currently has a consensus rating of "Moderate Buy" and an average target price of $183.78.

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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