Banque Cantonale Vaudoise Takes $366,000 Position 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 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.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in Guardant Health during the 1st quarter worth about $232,000. Stifel Financial Corp lifted its holdings in Guardant Health by 25.1% during the 4th quarter. Stifel Financial Corp now owns 49,927 shares of the company's stock worth $1,525,000 after buying an additional 10,006 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Guardant Health during the 1st quarter worth about $866,000. Fifth Third Bancorp purchased a new stake in Guardant Health during the 1st quarter worth about $279,000. Finally, Raymond James Financial Inc. purchased a new stake in Guardant Health during the 4th quarter worth about $2,211,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

NASDAQ:GH opened at $41.42 on Friday. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of -12.36 and a beta of 1.43. Guardant Health, Inc. has a one year low of $20.14 and a one year high of $53.42. The stock has a 50-day simple moving average of $47.21 and a 200 day simple moving average of $44.89.

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

Analysts Set New Price Targets

A number of research firms have recently commented on GH. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Barclays boosted their price target on Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. UBS Group boosted their price target on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Piper Sandler restated an "overweight" rating and issued a $60.00 price target (up previously from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Finally, TD Securities boosted their price target on Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Nineteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $54.95.

Insider Activity at Guardant Health

In related news, Director Myrtle S. Potter sold 2,626 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $49.70, for a total transaction of $130,512.20. Following the transaction, the director owned 18,180 shares in the company, valued at $903,546. This trade represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian T. Clark sold 6,672 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $48.38, for a total transaction of $322,791.36. Following the transaction, the director owned 9,851 shares in the company, valued at $476,591.38. This represents a 40.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,516 shares of company stock valued at $11,848,754. Company insiders own 6.10% of the company's stock.

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.

Want to see what other hedge funds are holding GH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Guardant Health, Inc. (NASDAQ:GH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.