Fairvoy Private Wealth LLC Purchases New Position in Guardant Health, Inc. $GH

Key Points

• Fairvoy Private Wealth LLC acquired 7,126 shares of Guardant Health in the third quarter, valued at approximately $1.27 million. Institutional investors collectively own 92.6% of the company.
• Analysts remain broadly bullish, with 23 Buy ratings and one Strong Buy; the consensus price target is $190, compared with the stock’s reported price of $157.88.
• Guardant Health reported better-than-expected quarterly results, including an adjusted loss of $0.42 per share versus the $0.76 estimate and revenue of $334.98 million, up 44.3% year over year.

Fairvoy Private Wealth LLC acquired a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,126 shares of the company's stock, valued at approximately $1,271,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new stake in Guardant Health during the 2nd quarter valued at $208,592,000. William Blair Investment Management LLC bought a new stake in shares of Guardant Health in the 2nd quarter worth $196,737,000. Orbimed Advisors LLC bought a new stake in shares of Guardant Health in the 1st quarter worth $40,199,000. Eagle Health Investments LP bought a new stake in shares of Guardant Health in the 2nd quarter worth $45,112,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Guardant Health in the second quarter worth $32,316,000. 92.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GH has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Guardant Health from $185.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. JPMorgan Chase & Co. increased their price objective on Guardant Health from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Mizuho increased their price objective on Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. The Goldman Sachs Group reiterated a "buy" rating and issued a $210.00 price objective on shares of Guardant Health in a report on Friday, July 31st. Finally, Canaccord Genuity Group lifted their price objective on Guardant Health from $135.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $190.00.

Guardant Health Price Performance

Guardant Health stock traded down $0.72 during midday trading on Monday, reaching $157.88. 1,869,720 shares of the company traded hands, compared to its average volume of 2,211,743. The firm has a market capitalization of $21.19 billion, a price-to-earnings ratio of -45.24 and a beta of 1.58. The business has a 50 day moving average of $167.94 and a two-hundred day moving average of $139.53. Guardant Health, Inc. has a 12 month low of $65.96 and a 12 month high of $191.05.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million during the quarter, compared to analysts' expectations of $314.23 million. During the same quarter in the prior year, the business posted ($0.44) EPS. The company's revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, equities analysts forecast that Guardant Health, Inc. will post -3.02 EPS for the current year.

Insider Buying and Selling at Guardant Health

In other news, Director Steve E. Krognes sold 6,674 shares of the firm's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $175.74, for a total value of $1,172,888.76. Following the transaction, the director directly owned 7,906 shares in the company, valued at $1,389,400.44. This trade represents a 45.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Terilyn J. Monroe sold 46,300 shares of Guardant Health stock in a transaction 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 completion of the sale, the insider directly owned 22,979 shares of the company's stock, valued at $3,794,292.48. The trade was a 66.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 178,940 shares of company stock worth $30,070,911. 5.60% of the stock is owned by corporate insiders.

Guardant Health Company Profile

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood-based tests and data solutions designed to help detect cancer, guide treatment decisions and monitor patients over time. Its technologies analyze circulating tumor DNA and other molecular information from blood samples, supporting more accessible and less invasive alternatives to some tissue-based testing approaches.

The company's products include Guardant360, which helps identify genomic alterations in advanced cancers and may inform targeted treatment selection; Guardant360 Response, designed to assess a patient's response to therapy; and Guardant Reveal, which is used to detect minimal residual disease and recurrence risk in certain cancers.

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