Guardant Health, Inc. $GH Shares Newly Bought by Fig Financial Advisory Services Inc. ADV

Key Points

• Fig Financial Advisory Services acquired 6,118 Guardant Health shares worth approximately $1.09 million in the third quarter. Institutional investors and hedge funds collectively own 92.6% of the company.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $189.38. Recent target increases included Citigroup’s move to $215 and Stephens’ move to $195.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year, and a loss of $0.42 per share—better than the expected $0.76 loss. Meanwhile, insiders have sold approximately $30.0 million of stock over the past 90 days.

Fig Financial Advisory Services Inc. ADV acquired a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,118 shares of the company's stock, valued at approximately $1,091,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ninepoint Partners LP acquired a new stake in shares of Guardant Health in the second quarter worth $2,853,000. Orbimed Advisors LLC acquired a new position in Guardant Health during the first quarter valued at $40,199,000. GSA Capital Partners LLP acquired a new position in Guardant Health during the second quarter valued at $1,772,000. Eagle Health Investments LP purchased a new stake in Guardant Health in the 2nd quarter worth about $45,112,000. Finally, SWS Partners acquired a new stake in Guardant Health during the 2nd quarter worth about $11,190,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Alex M. Azar II sold 826 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $175.00, for a total transaction of $144,550.00. Following the transaction, the director owned 825 shares of the company's stock, valued at approximately $144,375. This represents a 50.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steve E. Krognes sold 6,674 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $175.74, for a total value of $1,172,888.76. Following the completion of the transaction, the director directly owned 7,906 shares in the company, valued at $1,389,400.44. The trade was a 45.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,755 shares of company stock worth $30,040,636 in the last 90 days. 5.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GH has been the topic of a number of research reports. Stephens upped their target price on Guardant Health from $170.00 to $195.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Citigroup raised their price target on shares of Guardant Health from $150.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $210.00 price objective on shares of Guardant Health in a research report on Thursday, September 10th. TD Cowen reiterated a "buy" rating on shares of Guardant Health in a research note on Tuesday, August 25th. Finally, Morgan Stanley increased their target price on shares of Guardant Health from $175.00 to $185.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $189.38.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $168.33 on Thursday. The stock has a market cap of $22.59 billion, a price-to-earnings ratio of -48.23 and a beta of 1.58. The business has a 50 day simple moving average of $167.47 and a 200 day simple moving average of $135.68. Guardant Health, Inc. has a 52 week low of $61.00 and a 52 week high of $191.05.

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

Guardant Health Profile

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood- and tissue-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients throughout the course of their disease. Its testing platforms analyze circulating tumor DNA and other genomic information to provide insights into a tumor's molecular characteristics.

The company's products include Guardant360 tests for comprehensive genomic profiling in advanced cancer, Guardant360 CDx, which is approved as a companion diagnostic for certain targeted therapies, and Guardant360 Response for assessing how a tumor may be responding to treatment.

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