Guardant Health, Inc. $GH Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc has reduced its stake in Guardant Health, Inc. by 31.5%, now holding approximately 173,261 shares valued at around $9 million.
• Several institutional investors have increased their holdings in Guardant Health, with notable increases from Signaturefd LLC (+50.5%) and IFP Advisors Inc. (+120.1%) during the 2nd quarter.
• Guardant Health has seen an increase in analyst ratings, with a consensus rating of "Moderate Buy" and an average price target of $65.86, as many firms have recently raised their price targets for the stock.

Aberdeen Group plc decreased its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 31.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,261 shares of the company's stock after selling 79,702 shares during the period. Aberdeen Group plc owned about 0.14% of Guardant Health worth $9,017,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GH. Signaturefd LLC lifted its stake in Guardant Health by 50.5% during the 2nd quarter. Signaturefd LLC now owns 635 shares of the company's stock worth $33,000 after acquiring an additional 213 shares in the last quarter. IFP Advisors Inc lifted its stake in Guardant Health by 120.1% during the 2nd quarter. IFP Advisors Inc now owns 612 shares of the company's stock worth $33,000 after acquiring an additional 334 shares in the last quarter. SVB Wealth LLC acquired a new position in Guardant Health during the 1st quarter worth about $54,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Guardant Health during the 1st quarter worth about $97,000. Finally, CWM LLC lifted its stake in Guardant Health by 180.3% during the 1st quarter. CWM LLC now owns 2,296 shares of the company's stock worth $98,000 after acquiring an additional 1,477 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on GH. Wells Fargo & Company began coverage on Guardant Health in a research note on Monday, September 22nd. They set an "overweight" rating and a $72.00 target price on the stock. Guggenheim upped their price target on Guardant Health from $56.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, September 25th. Barclays upped their price target on Guardant Health from $60.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Evercore ISI upped their price target on Guardant Health from $60.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, October 7th. Finally, Canaccord Genuity Group upped their price target on Guardant Health from $65.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Twenty-three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.86.

Guardant Health Stock Performance

GH opened at $64.19 on Thursday. Guardant Health, Inc. has a one year low of $20.14 and a one year high of $68.00. The company has a market cap of $8.01 billion, a P/E ratio of -19.16 and a beta of 1.53. The business's 50-day simple moving average is $60.50 and its 200-day simple moving average is $50.52.

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

Insider Buying and Selling

In related news, CEO Helmy Eltoukhy sold 300,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the transaction, the chief executive officer owned 2,123,499 shares in the company, valued at $126,242,015.55. This trade represents a 12.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $54.16, for a total value of $117,256.40. Following the transaction, the director owned 851 shares in the company, valued at $46,090.16. This represents a 71.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 302,549 shares of company stock worth $17,975,121 in the last 90 days. 6.10% of the stock is currently owned by company insiders.

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.

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