Canada Pension Plan Investment Board Has $3.90 Million Stock Position in Guardant Health, Inc. $GH

Key Points

• Canada Pension Plan Investment Board reduced its stake in Guardant Health by 48.4%, owning approximately 91,600 shares worth $3.9 million at the end of the first quarter.
• CEO Amirali Talasaz sold 100,000 shares for over $5 million, decreasing his ownership by 4.83% to about 1.97 million shares worth approximately $100.3 million.
• Guardant Health reported a 31% year-over-year revenue increase, with $232.09 million in revenue for its last quarter, surpassing analyst expectations.

Canada Pension Plan Investment Board lowered its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 48.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,600 shares of the company's stock after selling 85,900 shares during the quarter. Canada Pension Plan Investment Board owned 0.07% of Guardant Health worth $3,902,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Deep Track Capital LP boosted its holdings in shares of Guardant Health by 7.0% in the 4th quarter. Deep Track Capital LP now owns 6,419,566 shares of the company's stock valued at $196,118,000 after buying an additional 419,006 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Guardant Health by 100.9% in the 1st quarter. Invesco Ltd. now owns 2,794,667 shares of the company's stock valued at $119,053,000 after buying an additional 1,403,670 shares during the last quarter. Two Sigma Advisers LP boosted its holdings 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 buying an additional 1,138,300 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of Guardant Health by 38.5% in the 4th quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock valued at $57,761,000 after buying an additional 525,368 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Guardant Health by 11.8% in the 1st quarter. Northern Trust Corp now owns 1,277,280 shares of the company's stock valued at $54,412,000 after buying an additional 135,288 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Activity

In other news, Director Meghan V. Joyce sold 3,337 shares of Guardant Health stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $47.22, for a total transaction of $157,573.14. Following the sale, the director directly owned 11,150 shares of the company's stock, valued at approximately $526,503. This trade represents a 23.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Myrtle S. Potter sold 2,626 shares of Guardant Health stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.70, for a total value of $130,512.20. Following the sale, the director directly owned 18,180 shares in the company, valued at $903,546. The trade was a 12.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,258 shares of company stock valued at $5,880,919. 6.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GH has been the topic of a number of research analyst reports. BTIG Research increased their price target on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Mizuho increased their price target on Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. Scotiabank increased their price target on Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Finally, Raymond James Financial increased their price target on Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and seventeen have assigned a Buy rating to the company. According to data from MarketBeat.com, Guardant Health has an average rating of "Buy" and a consensus price target of $58.24.

Guardant Health Price Performance

NASDAQ:GH traded down $1.08 during trading hours on Tuesday, hitting $59.09. The company's stock had a trading volume of 644,389 shares, compared to its average volume of 2,381,934. The stock has a fifty day simple moving average of $53.28 and a 200-day simple moving average of $47.30. The company has a market capitalization of $7.37 billion, a P/E ratio of -17.71 and a beta of 1.45. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $68.00.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.08. The business had revenue of $232.09 million during the quarter, compared to analyst estimates of $211.19 million. The business's quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the business earned ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. On average, equities analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Guardant Health 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.