Fred Alger Management LLC Has $39.89 Million Holdings in Guardant Health, Inc. $GH

Key Points

• Fred Alger Management boosted its stake in Guardant Health by 70.9% to 638,487 shares, worth about $39.89 million (roughly 0.51% of the company) at quarter-end.
• Guardant Health beat revenue expectations with $281.3M (+39.4% YoY) but missed EPS (-$0.50 vs. -$0.43), and analysts remain largely bullish with an average price target of $122.57 (21 Buys, 1 Hold, 1 Sell).

Fred Alger Management LLC boosted its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 70.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 638,487 shares of the company's stock after acquiring an additional 264,808 shares during the quarter. Fred Alger Management LLC owned 0.51% of Guardant Health worth $39,893,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GH. Baillie Gifford & Co. increased its holdings in Guardant Health by 6.6% during the 3rd quarter. Baillie Gifford & Co. now owns 5,127,692 shares of the company's stock worth $320,378,000 after purchasing an additional 317,906 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Guardant Health by 27.3% in the second quarter. Invesco Ltd. now owns 3,558,501 shares of the company's stock valued at $185,184,000 after purchasing an additional 763,834 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Guardant Health by 26.1% in the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company's stock valued at $182,836,000 after purchasing an additional 606,368 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Guardant Health by 0.5% during the second quarter. Geode Capital Management LLC now owns 2,920,714 shares of the company's stock valued at $152,014,000 after buying an additional 13,088 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its position in shares of Guardant Health by 49.6% during the second quarter. Nikko Asset Management Americas Inc. now owns 2,030,428 shares of the company's stock valued at $105,623,000 after buying an additional 673,438 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Trading Up 1.7%

Shares of Guardant Health stock opened at $85.49 on Monday. The business's fifty day simple moving average is $103.92 and its 200 day simple moving average is $90.02. Guardant Health, Inc. has a 12 month low of $36.36 and a 12 month high of $120.74. The firm has a market capitalization of $11.21 billion, a P/E ratio of -25.83 and a beta of 1.67.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.07). The business had revenue of $281.27 million during the quarter, compared to analysts' expectations of $269.74 million. During the same period in the previous year, the business earned ($0.62) EPS. Guardant Health's revenue for the quarter was up 39.4% on a year-over-year basis. Analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GH has been the subject of a number of analyst reports. Canaccord Genuity Group increased their price target on Guardant Health from $125.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, February 20th. BTIG Research lifted their price objective on shares of Guardant Health from $140.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Guardant Health in a research note on Thursday, January 22nd. Evercore set a $110.00 target price on shares of Guardant Health in a report on Friday, February 20th. Finally, UBS Group reissued a "buy" rating and set a $175.00 price target on shares of Guardant Health in a research report on Friday, January 30th. Twenty-one analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $122.57.

Insider Transactions at Guardant Health

In related news, Director Medina Manuel Hidalgo sold 1,300 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $91.54, for a total transaction of $119,002.00. Following the completion of the transaction, the director owned 1,193 shares in the company, valued at approximately $109,207.22. This represents a 52.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terilyn J. Monroe sold 10,031 shares of the firm's stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $112.08, for a total transaction of $1,124,274.48. Following the sale, the insider owned 20,990 shares of the company's stock, valued at $2,352,559.20. This trade represents a 32.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,018 shares of company stock worth $2,232,911 over the last three months. 6.10% of the stock is owned by insiders.

Guardant Health Profile

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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