Guardant Health, Inc. $GH Stock Position Lifted by Simplify Asset Management Inc.

Key Points

• Simplify Asset Management increased its Guardant Health position by 77.5% in the third quarter, bringing its holdings to 48,940 shares valued at approximately $8.7 million. Institutional investors collectively own 92.6% of the company.
• Analysts remain broadly bullish, with 24 Buy ratings and one Strong Buy; the average price target is $191, while several firms recently raised targets to between $195 and $210.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year, and a narrower-than-expected loss of $0.42 per share. However, insiders sold roughly $30.1 million of stock over the past three months.

Simplify Asset Management Inc. increased its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 77.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,940 shares of the company's stock after buying an additional 21,369 shares during the quarter. Simplify Asset Management Inc.'s holdings in Guardant Health were worth $8,729,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ABS Investment Management LLC purchased a new position in Guardant Health during the 2nd quarter valued at about $345,069,000. The Manufacturers Life Insurance Company purchased a new stake in Guardant Health in the 2nd quarter worth approximately $208,592,000. William Blair Investment Management LLC purchased a new stake in Guardant Health in the 2nd quarter worth approximately $196,737,000. First Light Asset Management LLC lifted its holdings in Guardant Health by 57.5% in the 2nd quarter. First Light Asset Management LLC now owns 441,586 shares of the company's stock worth $66,251,000 after buying an additional 161,287 shares during the period. Finally, Handelsbanken Fonder AB grew its position in shares of Guardant Health by 159.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 301,041 shares of the company's stock worth $45,165,000 after buying an additional 185,200 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GH has been the topic of several research analyst reports. BTIG Research boosted their target price on Guardant Health from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on Guardant Health from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Royal Bank Of Canada raised their price target on Guardant Health from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. TD Cowen reiterated a "buy" rating on shares of Guardant Health in a report on Tuesday, August 25th. Finally, Mizuho lifted their price target on shares of Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $191.00.

Insider Transactions at Guardant Health

In other news, Director Ian Clark sold 14,180 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total value of $2,253,485.60. Following the completion of the transaction, the director owned 2,975 shares of the company's stock, valued at approximately $472,787. This represents a 82.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Freeman sold 63,605 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $169.58, for a total value of $10,786,135.90. Following the completion of the transaction, the insider owned 65,374 shares of the company's stock, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 178,940 shares of company stock worth $30,070,911. 5.60% of the stock is owned by insiders.

Guardant Health Price Performance

GH stock opened at $182.59 on Thursday. Guardant Health, Inc. has a 1 year low of $68.02 and a 1 year high of $191.05. The company has a market cap of $24.50 billion, a P/E ratio of -52.32 and a beta of 1.58. The firm has a 50-day moving average of $169.05 and a 200 day moving average of $129.95.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million during the quarter, compared to analysts' expectations of $314.23 million. The business's quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.44) earnings per share. On average, equities research analysts expect that Guardant Health, Inc. will post -3.08 earnings per share for the current fiscal year.

Guardant Health Company Profile

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood-based tests and data solutions designed to help detect cancer, guide treatment decisions and monitor patients over time. Its technologies analyze circulating tumor DNA and other molecular information from blood samples, supporting more accessible and less invasive alternatives to some tissue-based testing approaches.

The company's products include Guardant360, which helps identify genomic alterations in advanced cancers and may inform targeted treatment selection; Guardant360 Response, designed to assess a patient's response to therapy; and Guardant Reveal, which is used to detect minimal residual disease and recurrence risk in certain cancers.

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