Deutsche Bank AG Makes New $24.39 Million Investment in Guardant Health, Inc. $GH

Key Points

• Deutsche Bank initiated a $24.39 million position in Guardant Health, acquiring 162,533 shares and holding approximately 0.12% of the company. Institutional investors collectively own 92.6% of GH.
• Guardant Health reported stronger-than-expected quarterly results, with an adjusted loss of $0.42 per share versus the $0.76 consensus estimate and revenue of $334.98 million, up 44.3% year over year.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $183.78. However, insiders sold roughly $77.5 million worth of shares over the past 90 days.

Deutsche Bank AG acquired a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 162,533 shares of the company's stock, valued at approximately $24,385,000. Deutsche Bank AG owned approximately 0.12% of Guardant Health at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Elyxium Wealth LLC bought a new stake in Guardant Health in the 4th quarter valued at $35,000. Parallel Advisors LLC boosted its position in shares of Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company's stock valued at $36,000 after acquiring an additional 219 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Guardant Health during the 1st quarter valued at about $38,000. Hollencrest Capital Management bought a new stake in Guardant Health in the first quarter valued at about $41,000. Finally, EFG International AG bought a new stake in Guardant Health in the fourth quarter valued at about $41,000. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Up 1.7%

NASDAQ:GH opened at $170.69 on Friday. Guardant Health, Inc. has a 12-month low of $53.40 and a 12-month high of $176.58. The firm has a market capitalization of $22.91 billion, a P/E ratio of -48.91 and a beta of 1.60. The stock's fifty day simple moving average is $153.91 and its 200-day simple moving average is $118.69.

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

Insider Buying and Selling

In other Guardant Health news, Director Ian T. Clark sold 14,180 shares of Guardant Health stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the transaction, the director directly owned 2,975 shares in the company, valued at approximately $472,787. The trade was a 82.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amirali Talasaz sold 143,028 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $151.54, for a total value of $21,674,463.12. Following the completion of the transaction, the chief executive officer directly owned 1,881,336 shares of the company's stock, valued at approximately $285,097,657.44. The trade was a 7.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 521,818 shares of company stock worth $77,539,233 over the last ninety days. Insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on GH shares. Stifel Nicolaus raised their price target on shares of Guardant Health from $130.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Evercore reiterated an "outperform" rating and issued a $200.00 price objective on shares of Guardant Health in a research note on Monday, July 6th. Bank of America increased their target price on Guardant Health from $135.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Mizuho boosted their price target on Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Finally, Morgan Stanley boosted their price target on Guardant Health from $175.00 to $185.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.78.

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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