Victory Capital Management Inc. Increases Stock Position in Guardant Health, Inc. (NASDAQ:GH)

Victory Capital Management Inc. boosted its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 1,410.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,124 shares of the company's stock after buying an additional 205,546 shares during the quarter. Victory Capital Management Inc. owned approximately 0.18% of Guardant Health worth $9,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Guardant Health during the 4th quarter valued at about $2,211,000. Commonwealth Equity Services LLC bought a new position in shares of Guardant Health in the fourth quarter worth approximately $293,000. Xponance Inc. purchased a new position in shares of Guardant Health in the fourth quarter worth $261,000. Quantbot Technologies LP purchased a new position in shares of Guardant Health in the fourth quarter worth $80,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Guardant Health during the 4th quarter valued at $758,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. TD Securities raised their price objective on shares of Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Barclays lifted their price objective on Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Piper Sandler reissued an "overweight" rating and issued a $60.00 target price (up previously from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Finally, Scotiabank restated an "outperform" rating on shares of Guardant Health in a research report on Monday, May 5th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $54.45.

Guardant Health Trading Down 2.4%

Shares of NASDAQ GH traded down $1.07 during mid-day trading on Friday, reaching $44.42. The company had a trading volume of 1,439,025 shares, compared to its average volume of 1,812,888. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of -13.10 and a beta of 1.44. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $53.42. The business's 50-day moving average is $46.75 and its 200-day moving average is $44.69.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.08. The firm had revenue of $203.47 million for the quarter, compared to analysts' expectations of $189.91 million. The business's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.46) EPS. As a group, equities research analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Insider Buying and Selling at Guardant Health

In related news, Director Musa Tariq sold 3,213 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total value of $158,947.11. Following the completion of the transaction, the director directly owned 7,190 shares of the company's stock, valued at $355,689.30. This trade represents a 30.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Meghan V. Joyce sold 3,337 shares of Guardant Health stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.22, for a total transaction of $157,573.14. Following the sale, the director owned 11,150 shares of the company's stock, valued at $526,503. The trade was a 23.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 342,300 shares of company stock valued at $17,082,238. Corporate insiders own 6.10% of the company's stock.

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.