Guardant Health, Inc. $GH Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. reduced its stake in Guardant Health by 51.0% during Q1, selling 179,618 shares, and now owns approximately 0.14% of the company valued at about $7.36 million.
• CEO Amirali Talasaz sold 100,000 shares for $5.08 million, representing a 4.83% decrease in his total ownership.
• Several analysts have upgraded their price targets for Guardant Health, with consensus now at $57.50, reflecting a positive outlook on the company's stock performance.

Candriam S.C.A. reduced its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 51.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,874 shares of the company's stock after selling 179,618 shares during the period. Candriam S.C.A. owned about 0.14% of Guardant Health worth $7,364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of Montreal Can purchased a new stake in shares of Guardant Health in the fourth quarter worth $248,000. Raymond James Financial Inc. purchased a new stake in shares of Guardant Health in the fourth quarter worth $2,211,000. Rockefeller Capital Management L.P. lifted its holdings in Guardant Health by 20.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 16,357 shares of the company's stock worth $500,000 after purchasing an additional 2,757 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after purchasing an additional 230 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Guardant Health by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 72,149 shares of the company's stock worth $2,204,000 after purchasing an additional 4,002 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Raymond James Financial raised their target price on shares of Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Mizuho raised their target price on shares of Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. TD Securities raised their target price on shares of Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Canaccord Genuity Group raised their target price on shares of Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus raised their target price on shares of Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to MarketBeat.com, Guardant Health has an average rating of "Buy" and an average price target of $57.50.

Insider Activity at Guardant Health

In related news, CEO Amirali Talasaz sold 100,000 shares of Guardant Health stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the completion of the sale, the chief executive officer owned 1,971,830 shares in the company, valued at $100,326,710.40. This trade represents a 4.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Meghan V. Joyce sold 3,337 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $47.22, for a total transaction of $157,573.14. Following the transaction, the director directly owned 11,150 shares in the company, valued at $526,503. This trade represents a 23.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,542 shares of company stock worth $11,852,491 over the last ninety days. 6.10% of the stock is currently owned by company insiders.

Guardant Health Stock Performance

Shares of NASDAQ:GH traded up $0.48 on Monday, reaching $61.88. The company's stock had a trading volume of 1,523,316 shares, compared to its average volume of 2,391,211. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $62.81. The company has a market cap of $7.72 billion, a P/E ratio of -18.47 and a beta of 1.43. The company has a 50-day simple moving average of $50.26 and a 200 day simple moving average of $45.96.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share (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. Guardant Health's revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Guardant Health, Inc. will post -2.9 EPS 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.