Guardant Health, Inc. $GH Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System grew its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 22.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,599 shares of the company's stock after acquiring an additional 23,569 shares during the period. California State Teachers Retirement System owned about 0.10% of Guardant Health worth $12,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. acquired a new stake in Guardant Health during the 3rd quarter valued at approximately $114,421,000. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $575,670,000 after buying an additional 1,414,441 shares during the last quarter. Norges Bank purchased a new position in shares of Guardant Health during the 4th quarter valued at approximately $128,499,000. Summit Partners Public Asset Management LLC grew its position in shares of Guardant Health by 674.5% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company's stock worth $87,019,000 after buying an additional 741,958 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Guardant Health by 89.6% in the first quarter. The Manufacturers Life Insurance Company now owns 1,205,701 shares of the company's stock worth $111,371,000 after buying an additional 569,766 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GH has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Guggenheim upped their target price on shares of Guardant Health from $160.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. TD Cowen increased their price target on shares of Guardant Health from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday. BTIG Research lifted their price target on Guardant Health from $190.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Guardant Health in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $179.82.

Guardant Health Stock Performance

GH stock opened at $158.83 on Tuesday. The stock's fifty day moving average is $144.24 and its two-hundred day moving average is $113.78. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of -45.51 and a beta of 1.60. Guardant Health, Inc. has a 1 year low of $41.19 and a 1 year high of $176.58.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 210,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $109.89, for a total value of $23,076,900.00. Following the sale, the chief executive officer owned 1,886,504 shares in the company, valued at approximately $207,307,924.56. This trade represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helmy Eltoukhy sold 100,000 shares of Guardant Health stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the sale, the chief executive officer directly owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 708,565 shares of company stock worth $90,556,597 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

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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