Guardant Health, Inc. $GH Shares Purchased by Algert Global LLC

Key Points

• Algert Global increased its Guardant Health stake by 11.4% in the second quarter, bringing its holdings to 64,000 shares valued at approximately $9.6 million. Institutional investors collectively own 92.6% of the company.
• Guardant Health insiders sold 549,318 shares worth about $82.6 million over the past quarter, including substantial sales by CEO Amirali Talasaz and insider Chris Freeman.
• The company reported better-than-expected quarterly results, with revenue up 44.3% year over year to $335 million and an adjusted loss of $0.42 per share. Analysts maintain a “Moderate Buy” consensus, with an average price target of $183.78 versus the stock’s reported price of $164.92.

Algert Global LLC raised its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,000 shares of the company's stock after acquiring an additional 6,570 shares during the quarter. Algert Global LLC's holdings in Guardant Health were worth $9,602,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new position in shares of Guardant Health during the third quarter valued at approximately $114,421,000. Price T Rowe Associates Inc. MD raised its position in shares of Guardant Health by 33.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company's stock worth $575,670,000 after purchasing an additional 1,414,441 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Guardant Health in the 2nd quarter worth approximately $196,737,000. Norges Bank bought a new stake in shares of Guardant Health in the 4th quarter worth approximately $128,499,000. Finally, Summit Partners Public Asset Management LLC boosted its position in Guardant Health by 674.5% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company's stock valued at $87,019,000 after purchasing an additional 741,958 shares during the period. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Buying and Selling at Guardant Health

In related news, CEO Amirali Talasaz sold 37,500 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $169.16, for a total value of $6,343,500.00. Following the completion of the sale, the chief executive officer owned 37,500 shares of the company's stock, valued at $6,343,500. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Freeman sold 63,605 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the completion of the transaction, the insider owned 65,374 shares of the company's stock, valued at $11,086,122.92. This represents a 49.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 549,318 shares of company stock valued at $82,631,933. 5.60% of the stock is currently owned by insiders.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $164.92 on Wednesday. The business's fifty day moving average price is $155.33 and its two-hundred day moving average price is $119.49. The company has a market capitalization of $22.13 billion, a P/E ratio of -47.25 and a beta of 1.60. Guardant Health, Inc. has a 1-year low of $53.40 and a 1-year high of $176.58.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million for the quarter, compared to analyst estimates of $314.23 million. During the same quarter last year, the firm posted ($0.44) EPS. The company's revenue was up 44.3% compared to the same quarter last year. On average, research analysts expect that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GH shares. Bank of America upped their price objective on Guardant Health from $135.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Morgan Stanley raised their target price on Guardant Health from $175.00 to $185.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Stephens boosted their price target on shares of Guardant Health from $170.00 to $195.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. BTIG Research upped their price target on shares of Guardant Health from $190.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Guggenheim increased their price objective on shares of Guardant Health from $160.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. 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 company has an average rating of "Moderate Buy" and an average target price of $183.78.

About Guardant Health

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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