Guardant Health, Inc. $GH Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System lifted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,838 shares of the company's stock after buying an additional 10,239 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Guardant Health worth $21,129,925 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. boosted its stake in shares of Guardant Health by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company's stock valued at $343,348,000 after purchasing an additional 435,232 shares during the last quarter. Geode Capital Management LLC raised its holdings in Guardant Health by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company's stock worth $328,297,000 after buying an additional 277,001 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Guardant Health in the 2nd quarter worth approximately $208,592,000. William Blair Investment Management LLC purchased a new position in Guardant Health during the second quarter worth about $196,737,000. Finally, Norges Bank purchased a new stake in shares of Guardant Health during the fourth quarter valued at approximately $128,499,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Activity at Guardant Health

In other Guardant Health news, insider Terilyn Monroe sold 46,300 shares of the 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 transaction, the insider owned 22,979 shares of the company's stock, valued at $3,794,292.48. This trade represents a 66.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ian Clark sold 14,180 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the sale, the director owned 2,975 shares of the company's stock, valued at approximately $472,787. This represents a 82.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 426,908 shares of company stock valued at $67,098,183 over the last quarter. Company insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GH shares. TD Cowen restated a "buy" rating on shares of Guardant Health in a research note on Tuesday, August 25th. Barclays boosted their price target on shares of Guardant Health from $150.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Stifel Nicolaus upped their target price on Guardant Health from $130.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Morgan Stanley increased their price target on Guardant Health from $175.00 to $185.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, Bank of America raised their price target on shares of Guardant Health from $135.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $188.12.

Guardant Health Stock Up 5.9%

Shares of NASDAQ:GH traded up $9.91 on Tuesday, hitting $177.75. The company had a trading volume of 1,709,351 shares, compared to its average volume of 2,251,002. The firm has a market capitalization of $23.85 billion, a price-to-earnings ratio of -51.14 and a beta of 1.57. The firm's 50-day simple moving average is $159.70 and its two-hundred day simple moving average is $125.37. Guardant Health, Inc. has a 1 year low of $53.40 and a 1 year high of $178.96.

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

Guardant Health Profile

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company's products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.

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