Corient Private Wealth LP Makes New Investment in Guardant Health, Inc. $GH

Key Points

• Corient Private Wealth purchased 10,169 shares of Guardant Health worth approximately $1.53 million, while institutional investors collectively own 92.6% of the company.
• Analysts remain broadly optimistic: Guardant Health has a “Moderate Buy” consensus rating and an average price target of $183.78, with several firms recently raising targets to $193–$200.
• The company reported quarterly revenue of $334.98 million, up 44.3% year over year, and an adjusted loss of $0.42 per share that beat estimates; however, insiders sold 427,024 shares worth $67.1 million over the past 90 days.

Corient Private Wealth LP purchased a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,169 shares of the company's stock, valued at approximately $1,526,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Orbimed Advisors LLC bought a new position in Guardant Health in the first quarter worth approximately $40,199,000. World Investment Advisors bought a new stake in shares of Guardant Health during the 4th quarter valued at $1,664,000. GSA Capital Partners LLP bought a new stake in shares of Guardant Health during the 2nd quarter valued at $1,772,000. Ninepoint Partners LP purchased a new stake in shares of Guardant Health in the 2nd quarter worth $2,853,000. Finally, SWS Partners purchased a new stake in shares of Guardant Health in the 2nd quarter worth $11,190,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Activity at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 1,951 shares of Guardant Health stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $255,893.16. Following the sale, the director owned 11,048 shares of the company's stock, valued at $1,449,055.68. The trade was a 15.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Terilyn J. Monroe sold 46,300 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total value of $7,645,056.00. Following the sale, the insider directly owned 22,979 shares in the company, valued at $3,794,292.48. This trade represents a 66.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 427,024 shares of company stock valued at $67,113,285 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GH has been the topic of a number of recent research reports. Piper Sandler raised their target price on Guardant Health from $135.00 to $193.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Evercore reissued an "outperform" rating and set a $200.00 price target on shares of Guardant Health in a report on Monday, July 6th. JPMorgan Chase & Co. upped their price target on Guardant Health from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. BTIG Research reaffirmed a "buy" rating and issued a $195.00 price objective on shares of Guardant Health in a research note on Wednesday. Finally, Stephens lifted their price objective on Guardant Health from $170.00 to $195.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $183.78.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $161.04 on Friday. The company has a market cap of $21.61 billion, a P/E ratio of -46.14 and a beta of 1.57. Guardant Health, Inc. has a 52-week low of $53.40 and a 52-week high of $176.58. The firm's fifty day moving average is $159.65 and its two-hundred day moving average is $122.46.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.76) by $0.34. The firm had revenue of $334.98 million for the quarter, compared to analysts' expectations of $314.23 million. During the same quarter in the previous year, the business earned ($0.44) EPS. The company's revenue for the quarter was up 44.3% on a year-over-year basis. As a group, analysts forecast that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

About Guardant Health

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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