Guardant Health, Inc. $GH Stock Holdings Increased by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of the State of Kentucky increased its Guardant Health stake by 11.5% in the first quarter, adding 15,782 shares to bring its total to 153,253 shares worth about $14.2 million.
• Several other institutional investors also added to or initiated positions, and institutional ownership remains very high at 92.6% of the stock.
• Insiders have been selling shares: Director Myrtle S. Potter and CFO Michael Brian Bell both reduced their holdings, and insiders sold 708,681 shares worth $90.6 million over the last 90 days.

Teachers Retirement System of The State of Kentucky lifted its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,253 shares of the company's stock after acquiring an additional 15,782 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.12% of Guardant Health worth $14,155,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Guardant Health in the fourth quarter worth $27,000. Chesapeake Asset Management LLC acquired a new position in shares of Guardant Health during the fourth quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Guardant Health during the fourth quarter worth about $31,000. Elyxium Wealth LLC bought a new position in shares of Guardant Health during the fourth quarter worth about $35,000. Finally, Parallel Advisors LLC increased its holdings in shares of Guardant Health by 164.7% in the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company's stock worth $36,000 after acquiring an additional 219 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Myrtle S. Potter sold 1,556 shares of Guardant Health stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $204,084.96. Following the completion of the sale, the director owned 20,971 shares of the company's stock, valued at $2,750,556.36. This trade represents a 6.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $128.62, for a total value of $257,240.00. Following the transaction, the chief financial officer owned 47,509 shares in the company, valued at approximately $6,110,607.58. This trade represents a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 708,681 shares of company stock worth $90,566,438. 5.60% of the stock is currently owned by company insiders.

Guardant Health Price Performance

Guardant Health stock opened at $158.40 on Tuesday. Guardant Health, Inc. has a fifty-two week low of $40.35 and a fifty-two week high of $174.08. The firm's 50 day simple moving average is $128.92 and its 200-day simple moving average is $108.75. The company has a market cap of $21.00 billion, a P/E ratio of -46.73 and a beta of 1.59.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TD Cowen reaffirmed a "buy" rating on shares of Guardant Health in a research note on Thursday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of Guardant Health from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Royal Bank Of Canada started coverage on Guardant Health in a research report on Thursday, June 11th. They issued an "outperform" rating and a $185.00 target price for the company. Morgan Stanley increased their price target on Guardant Health from $130.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, BTIG Research lifted their price target on Guardant Health from $160.00 to $190.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $155.70.

Guardant Health Company Profile

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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