Erste Asset Management GmbH Cuts Stake in Guardant Health, Inc. $GH

Key Points

• Erste Asset Management GmbH reduced its holdings in Guardant Health, Inc. by 7.8%, now owning 638,600 shares valued at approximately $27.2 million after selling 54,000 shares in the first quarter.
• Several institutional investors have increased their stakes, with Deep Track Capital LP boosting ownership by 7.0% and Invesco Ltd. by 100.9% during the last quarter.
• Guardant Health reported a quarterly revenue of $232.09 million, surpassing analyst estimates, and projected a slightly better EPS than anticipated for the fiscal year.

Erste Asset Management GmbH cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 638,600 shares of the company's stock after selling 54,000 shares during the quarter. Erste Asset Management GmbH owned approximately 0.52% of Guardant Health worth $27,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Deep Track Capital LP lifted its stake in shares of Guardant Health by 7.0% in the fourth quarter. Deep Track Capital LP now owns 6,419,566 shares of the company's stock worth $196,118,000 after acquiring an additional 419,006 shares during the period. Invesco Ltd. raised its holdings in Guardant Health by 100.9% during the 1st quarter. Invesco Ltd. now owns 2,794,667 shares of the company's stock worth $119,053,000 after purchasing an additional 1,403,670 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Guardant Health by 96.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock worth $70,742,000 after purchasing an additional 1,138,300 shares during the period. Two Sigma Investments LP boosted its stake in shares of Guardant Health by 38.5% in the 4th quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock valued at $57,761,000 after purchasing an additional 525,368 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Guardant Health by 11.8% during the first quarter. Northern Trust Corp now owns 1,277,280 shares of the company's stock worth $54,412,000 after buying an additional 135,288 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Securities lifted their target price on shares of Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Barclays increased their price target on Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Piper Sandler reissued an "overweight" rating and issued a $60.00 price objective (up from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. UBS Group upped their target price on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Raymond James Financial raised their price objective on shares of Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $57.50.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 100,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total value of $5,088,000.00. Following the completion of the sale, the chief executive officer directly owned 1,971,830 shares of the company's stock, valued at approximately $100,326,710.40. This represents a 4.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.70, for a total transaction of $130,512.20. Following the completion of the sale, the director owned 18,180 shares of the company's stock, valued at approximately $903,546. This trade represents a 12.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 235,542 shares of company stock worth $11,852,491. 6.10% of the stock is owned by insiders.

Guardant Health Stock Performance

Shares of Guardant Health stock traded up $0.0250 during trading hours on Monday, reaching $61.4250. The company's stock had a trading volume of 580,072 shares, compared to its average volume of 2,385,090. The company has a market capitalization of $7.66 billion, a P/E ratio of -18.34 and a beta of 1.43. The stock's fifty day simple moving average is $50.26 and its two-hundred day simple moving average is $45.96. Guardant Health, Inc. has a one year low of $20.14 and a one year high of $62.81.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, topping analysts' consensus estimates of ($0.52) by $0.08. The business had revenue of $232.09 million during the quarter, compared to analyst estimates of $211.19 million. During the same quarter in the prior year, the company earned ($0.84) EPS. The company's revenue was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

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.