Comerica Bank Decreases Stake in Guardant Health, Inc. $GH

Key Points

• Comerica Bank has reduced its ownership in Guardant Health, Inc. by 25.1%, now holding 39,094 shares valued at approximately $1.67 million.
• Insider transactions included CEO Amirali Talasaz selling 100,000 shares for over $5 million, resulting in a 4.83% decrease in his holdings.
• Guardant Health recently reported a 31.0% year-over-year increase in quarterly revenue, with earnings per share at ($0.44), beating analyst expectations.

Comerica Bank cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 25.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,094 shares of the company's stock after selling 13,131 shares during the period. Comerica Bank's holdings in Guardant Health were worth $1,665,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of GH. SVB Wealth LLC acquired a new position in shares of Guardant Health during the 1st quarter worth approximately $54,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Guardant Health in the fourth quarter valued at $61,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Guardant Health during the first quarter worth $97,000. CWM LLC raised its position in Guardant Health by 180.3% during the first quarter. CWM LLC now owns 2,296 shares of the company's stock worth $98,000 after acquiring an additional 1,477 shares in the last quarter. Finally, Nkcfo LLC bought a new stake in Guardant Health during the first quarter worth $107,000. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Performance

Shares of Guardant Health stock traded down $1.05 on Tuesday, reaching $59.12. 644,389 shares of the company's stock were exchanged, compared to its average volume of 2,381,934. 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 52 week low of $20.14 and a 52 week high of $68.00. The firm's 50-day moving average is $53.28 and its two-hundred day moving average is $47.30.

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

Insider Buying and Selling

In related news, Director Meghan V. Joyce sold 3,337 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.22, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amirali Talasaz sold 100,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total value of $5,088,000.00. Following the completion of the transaction, the chief executive officer owned 1,971,830 shares in the company, valued at approximately $100,326,710.40. This represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,258 shares of company stock worth $5,880,919 over the last quarter. Corporate insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GH. BTIG Research lifted their price objective on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Evercore ISI upgraded shares of Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. Mizuho lifted their price target on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Raymond James Financial boosted their price target on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Scotiabank upped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Guardant Health currently has a consensus rating of "Buy" and a consensus price target of $58.24.

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.