Envestnet Asset Management Inc. Grows Position in Guardant Health, Inc. (NASDAQ:GH)

Key Points

• Envestnet Asset Management Inc. significantly increased its stake in Guardant Health by 136.6% in Q1, owning 27,497 shares valued at approximately $1.17 million.
• CEO Amirali Talasaz sold 100,000 shares valued at over $5 million on July 1, decreasing his ownership by 4.83% to approximately 1.97 million shares.
• Research firms reaffirmed a positive outlook, with multiple analysts raising their price targets for Guardant Health to $60.00, indicating a consensus rating of "Buy."

Envestnet Asset Management Inc. increased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 136.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,497 shares of the company's stock after purchasing an additional 15,877 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Guardant Health were worth $1,171,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its position in Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after purchasing an additional 230 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Guardant Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company's stock valued at $377,000 after buying an additional 391 shares in the last quarter. GF Fund Management CO. LTD. increased its holdings in Guardant Health by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 3,164 shares of the company's stock worth $135,000 after buying an additional 570 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in Guardant Health by 126.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,929 shares of the company's stock worth $89,000 after acquiring an additional 1,634 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Guardant Health in the fourth quarter valued at $61,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GH shares. Evercore ISI raised Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Raymond James Financial lifted their price objective on shares of Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Canaccord Genuity Group increased their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Barclays raised their target price on shares of Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, Mizuho increased their price target on shares of Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Guardant Health presently has an average rating of "Buy" and an average target price of $54.95.

Guardant Health Trading Down 3.4%

Shares of GH stock traded down $1.58 during trading hours on Wednesday, hitting $44.59. 2,984,380 shares of the company were exchanged, compared to its average volume of 2,321,190. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of -13.31 and a beta of 1.43. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $53.42. The firm has a fifty day simple moving average of $47.47 and a 200 day simple moving average of $45.06.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.08. The business had revenue of $232.09 million for the quarter, compared to analysts' expectations of $211.19 million. Guardant Health's quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.84) earnings per share. Sell-side analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 3,337 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $47.22, for a total value of $157,573.14. Following the completion of the sale, the director owned 11,150 shares in the company, valued at approximately $526,503. This trade represents a 23.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Myrtle S. Potter sold 2,626 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.70, for a total transaction of $130,512.20. Following the completion of the sale, the director directly owned 18,180 shares in the company, valued at $903,546. This represents a 12.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,516 shares of company stock worth $11,848,754 over the last quarter. Company insiders own 6.10% of the company's stock.

Guardant Health Company Profile

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.