Guardant Health, Inc. $GH Shares Sold by SWS Partners

Key Points

• SWS Partners reduced its stake in Guardant Health by 13.3%, now holding 104,817 shares valued at approximately $4.47 million.
• Guardant Health reported a quarterly revenue of $232.09 million, surpassing analyst expectations and marking a 31% year-over-year increase.
• Analysts have upgraded Guardant Health's stock rating, with a consensus target price of $58.24 and a majority rating it as a Buy.

SWS Partners cut its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,817 shares of the company's stock after selling 16,071 shares during the period. Guardant Health makes up 1.4% of SWS Partners' investment portfolio, making the stock its 15th largest position. SWS Partners owned about 0.08% of Guardant Health worth $4,465,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Intech Investment Management LLC boosted its position in shares of Guardant Health by 37.3% in the first quarter. Intech Investment Management LLC now owns 60,187 shares of the company's stock worth $2,564,000 after acquiring an additional 16,363 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Guardant Health by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,777,040 shares of the company's stock worth $118,302,000 after acquiring an additional 164,263 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Guardant Health in the first quarter worth approximately $274,000. Fred Alger Management LLC boosted its position in shares of Guardant Health by 194.3% in the first quarter. Fred Alger Management LLC now owns 457,617 shares of the company's stock worth $19,494,000 after acquiring an additional 302,145 shares during the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new stake in shares of Guardant Health in the first quarter worth approximately $3,805,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Stock Performance

Shares of GH opened at $56.57 on Thursday. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of -16.89 and a beta of 1.46. Guardant Health, Inc. has a one year low of $20.14 and a one year high of $68.00. The stock's fifty day moving average is $53.58 and its 200-day moving average is $47.45.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $211.19 million. Guardant Health's revenue for the quarter was up 31.0% on a year-over-year basis. During the same period last year, the business posted ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. Analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Activity at Guardant Health

In other news, Director Myrtle S. Potter sold 2,626 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $49.70, for a total transaction of $130,512.20. Following the transaction, the director directly owned 18,180 shares of the company's stock, valued at approximately $903,546. This trade represents a 12.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ian T. Clark sold 6,672 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $48.38, for a total value of $322,791.36. Following the transaction, the director directly owned 9,851 shares in the company, valued at $476,591.38. This trade represents a 40.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 116,258 shares of company stock valued at $5,880,919. 6.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI raised Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. Scotiabank lifted their price objective on Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Mizuho lifted their price objective on Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Raymond James Financial lifted their price objective on Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, BTIG Research lifted their price objective on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating and seventeen have given a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $58.24.

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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