Comerica Bank Grows Stock Holdings in Guardant Health, Inc. $GH

Key Points

• Comerica Bank increased its stake in Guardant Health by 48.9% in Q4, buying 17,931 shares to hold 54,597 shares valued at about $5.576 million.
• Guardant reported Q earnings of ($0.50) EPS, missing estimates while revenue of $281.27 million beat expectations and rose 39.4% year-over-year; analysts remain largely positive with an average rating of Moderate Buy and an average price target of $128.63.
• Insiders have sold 8,596 shares worth $775,767 in the last 90 days (including trades by a director and the CFO), while institutional investors own about 92.60% of the stock and insiders hold 6.10%.

Comerica Bank raised its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 48.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,597 shares of the company's stock after buying an additional 17,931 shares during the period. Comerica Bank's holdings in Guardant Health were worth $5,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Guardant Health in the 4th quarter valued at about $27,000. Chesapeake Asset Management LLC purchased a new stake in Guardant Health in the 4th quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Guardant Health in the 4th quarter valued at about $31,000. First Pacific Financial purchased a new stake in Guardant Health in the 4th quarter valued at about $43,000. Finally, Optiver Holding B.V. boosted its position in Guardant Health by 153.5% in the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company's stock valued at $48,000 after buying an additional 465 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

NASDAQ:GH opened at $87.08 on Friday. Guardant Health, Inc. has a one year low of $36.36 and a one year high of $120.74. The firm has a market cap of $11.54 billion, a P/E ratio of -26.31 and a beta of 1.64. The firm has a 50-day simple moving average of $89.30 and a 200-day simple moving average of $95.91.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The firm had revenue of $281.27 million for the quarter, compared to analyst estimates of $269.74 million. During the same period in the prior year, the company posted ($0.62) EPS. The business's quarterly revenue was up 39.4% on a year-over-year basis. On average, research analysts predict that Guardant Health, Inc. will post -2.87 EPS for the current fiscal year.

Analysts Set New Price Targets

GH has been the subject of several research reports. Barclays lowered their price objective on shares of Guardant Health from $130.00 to $115.00 and set an "overweight" rating for the company in a research report on Tuesday, April 14th. Wells Fargo & Company boosted their price target on shares of Guardant Health from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, February 20th. Leerink Partners boosted their price target on shares of Guardant Health from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, February 20th. Canaccord Genuity Group boosted their price target on shares of Guardant Health from $125.00 to $135.00 and gave the company a "buy" rating in a report on Friday, February 20th. Finally, Stifel Nicolaus boosted their price target on shares of Guardant Health from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 20th. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $128.63.

Insider Activity

In related news, Director Musa Tariq sold 348 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $88.09, for a total transaction of $30,655.32. Following the completion of the transaction, the director owned 8,394 shares in the company, valued at $739,427.46. The trade was a 3.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Brian Bell sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $87.04, for a total transaction of $261,120.00. Following the transaction, the chief financial officer owned 43,601 shares of the company's stock, valued at approximately $3,795,031.04. This trade represents a 6.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,596 shares of company stock worth $775,767. Insiders own 6.10% of the company's stock.

Guardant Health 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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