Brandywine Managers LLC Takes $1.37 Million Position in Guardant Health, Inc. $GH

Brandywine Managers LLC purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,133 shares of the company's stock, valued at approximately $1,370,000. Guardant Health comprises 0.7% of Brandywine Managers LLC's investment portfolio, making the stock its 15th biggest holding.

Several other hedge funds have also recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new position in Guardant Health during the 3rd quarter worth $114,421,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Guardant Health by 33.5% in 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 acquiring an additional 1,414,441 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Guardant Health in the second quarter valued at about $196,737,000. Norges Bank purchased a new stake in shares of Guardant Health in the fourth quarter valued at about $128,499,000. Finally, Summit Partners Public Asset Management LLC increased its stake in shares of Guardant Health by 674.5% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company's stock worth $87,019,000 after acquiring an additional 741,958 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Terilyn J. Monroe sold 46,300 shares of Guardant Health stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the completion of the transaction, the insider directly owned 22,979 shares in the company, valued at $3,794,292.48. The trade was a 66.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Helmy Eltoukhy sold 100,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the sale, the chief executive officer owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 559,318 shares of company stock worth $83,882,733 in the last three months. Company insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GH. JPMorgan Chase & Co. lifted their price objective on Guardant Health from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, July 31st. TD Cowen lifted their price target on Guardant Health from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Mizuho lifted their price target on Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Evercore reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Guardant Health in a report on Monday, July 6th. Finally, Citigroup increased their price target on shares of Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. One investment 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. According to data from MarketBeat.com, Guardant Health currently has a consensus rating of "Moderate Buy" and an average target price of $183.78.

Guardant Health Stock Performance

GH opened at $163.18 on Tuesday. The company has a market cap of $21.90 billion, a price-to-earnings ratio of -46.76 and a beta of 1.60. Guardant Health, Inc. has a one year low of $53.40 and a one year high of $176.58. The business's fifty day moving average is $154.58 and its two-hundred day moving average is $119.07.

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

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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