Banque Cantonale Vaudoise Makes New $366,000 Investment in Guardant Health, Inc. (NASDAQ:GH)

Key Points

• Banque Cantonale Vaudoise has acquired a new position in Guardant Health, Inc. worth approximately $366,000 by purchasing 8,582 shares in the first quarter.
• Guardant Health reported a revenue increase of 31.0% year-over-year, with earnings per share of ($0.44) for the last quarter, exceeding analysts' estimates.
• Many analysts have upgraded their ratings for Guardant Health, with a consensus price target of $54.95, reflecting a strong positive sentiment among investors.

Banque Cantonale Vaudoise bought a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,582 shares of the company's stock, valued at approximately $366,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GH. Deep Track Capital LP lifted its position in shares of Guardant Health by 7.0% in the fourth quarter. Deep Track Capital LP now owns 6,419,566 shares of the company's stock worth $196,118,000 after purchasing an additional 419,006 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Guardant Health by 96.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock valued at $70,742,000 after purchasing an additional 1,138,300 shares during the period. Two Sigma Investments LP increased its position in shares of Guardant Health by 38.5% during the 4th quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock worth $57,761,000 after purchasing an additional 525,368 shares during the last quarter. Norges Bank acquired a new position in Guardant Health during the 4th quarter worth about $36,438,000. Finally, Federated Hermes Inc. increased its holdings in Guardant Health by 11.5% during the 4th quarter. Federated Hermes Inc. now owns 962,722 shares of the company's stock worth $29,411,000 after purchasing an additional 99,072 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Guardant Health

In other news, Director Ian T. Clark sold 6,672 shares of the company's stock in a transaction dated 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 in the company, valued at $476,591.38. This represents a 40.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Musa Tariq sold 3,213 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $49.47, for a total value of $158,947.11. Following the completion of the transaction, the director directly owned 7,190 shares of the company's stock, valued at $355,689.30. The trade was a 30.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 235,516 shares of company stock valued at $11,848,754. Company insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GH. UBS Group increased their target price on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Piper Sandler reissued an "overweight" rating and issued a $60.00 price target (up from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. TD Securities raised their price target on shares of Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Barclays raised their price target on shares of Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Raymond James Financial boosted their price target on shares of Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $54.95.

Guardant Health Stock Down 3.4%

Shares of NASDAQ GH traded down $1.58 during trading hours on Wednesday, reaching $44.59. 3,080,273 shares of the stock traded hands, compared to its average volume of 2,328,254. The company has a market capitalization of $5.56 billion, a P/E ratio of -13.31 and a beta of 1.43. The company's 50-day simple moving average is $47.47 and its two-hundred day simple moving average is $45.06. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $53.42.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.08. The firm had revenue of $232.09 million during the quarter, compared to the consensus estimate of $211.19 million. During the same period in the previous year, the firm earned ($0.84) EPS. The business's revenue was up 31.0% on a year-over-year basis. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Guardant Health Company Profile

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.