Edgestream Partners L.P. Invests $870,000 in Guardant Health, Inc. (NASDAQ:GH)

Edgestream Partners L.P. purchased a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,425 shares of the company's stock, valued at approximately $870,000.

A number of other large investors have also recently made changes to their positions in GH. Norges Bank bought a new stake in shares of Guardant Health in the fourth quarter worth approximately $36,438,000. Two Sigma Advisers LP grew its stake in shares of Guardant Health by 96.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock worth $70,742,000 after acquiring an additional 1,138,300 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Guardant Health in the fourth quarter worth approximately $26,673,000. Emerald Advisers LLC bought a new stake in shares of Guardant Health in the first quarter worth approximately $22,639,000. Finally, Two Sigma Investments LP grew its stake in shares of Guardant Health by 38.5% in the fourth quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock worth $57,761,000 after acquiring an additional 525,368 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Performance

GH stock traded down $0.80 during trading on Wednesday, hitting $45.45. 2,365,488 shares of the company's stock traded hands, compared to its average volume of 2,189,678. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $53.42. The business has a fifty day simple moving average of $46.48 and a 200 day simple moving average of $44.56. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -13.41 and a beta of 1.44.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.08. The firm had revenue of $203.47 million during the quarter, compared to analysts' expectations of $189.91 million. During the same period in the prior year, the company posted ($0.46) EPS. The company's revenue was up 20.8% compared to the same quarter last year. Research analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Guardant Health news, 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 owned 11,150 shares of the company's stock, valued at approximately $526,503. This trade represents a 23.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amirali Talasaz sold 106,784 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the transaction, the chief executive officer directly owned 2,202,672 shares in the company, valued at $107,952,954.72. This trade represents a 4.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 342,300 shares of company stock worth $17,082,238 over the last ninety days. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GH shares. Mizuho lifted their price target on shares of Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Scotiabank restated an "outperform" rating on shares of Guardant Health in a research report on Monday, May 5th. Stifel Nicolaus boosted their target price on shares of Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Piper Sandler restated an "overweight" rating and set a $60.00 target price (up from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group boosted their target price on shares of Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $54.45.

About Guardant Health

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.