Entropy Technologies LP Cuts Holdings in Guardant Health, Inc. $GH

Key Points

• Entropy Technologies LP reduced its stake in Guardant Health by 59.1%, now owning 5,047 shares worth approximately $215,000 as of the latest quarter.
• Several institutional investors, including Janney Montgomery Scott LLC and Teacher Retirement System of Texas, have recently acquired new stakes in Guardant Health, contributing to institutional ownership now at 92.60%.
• Guardant Health's recent quarterly earnings surpassed expectations, reporting an EPS of ($0.44) against estimates of ($0.52) and generating a revenue of $232.09 million, marking a 31.0% year-over-year increase.

Entropy Technologies LP cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 59.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,047 shares of the company's stock after selling 7,299 shares during the period. Entropy Technologies LP's holdings in Guardant Health were worth $215,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake in Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after buying an additional 230 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health in the 4th quarter worth $61,000. GF Fund Management CO. LTD. purchased a new stake in shares of Guardant Health in the 4th quarter worth $79,000. TD Waterhouse Canada Inc. increased its stake in shares of Guardant Health by 126.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,929 shares of the company's stock worth $89,000 after purchasing an additional 1,634 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Guardant Health by 180.3% in the 1st quarter. CWM LLC now owns 2,296 shares of the company's stock worth $98,000 after purchasing an additional 1,477 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GH shares. Scotiabank upped their price objective on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Mizuho upped their price objective on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. Piper Sandler restated an "overweight" rating and issued a $60.00 price objective (up from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. Finally, Raymond James Financial upped their price objective on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $57.50.

Insider Transactions at Guardant Health

In related news, Director Ian T. Clark sold 6,672 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $48.38, for a total value of $322,791.36. Following the completion of the transaction, the director owned 9,851 shares of the company's stock, valued at approximately $476,591.38. This trade represents a 40.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Myrtle S. Potter sold 2,626 shares of the 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 trade represents a 12.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 235,400 shares of company stock worth $11,844,110 in the last quarter. Company insiders own 6.10% of the company's stock.

Guardant Health Stock Performance

Shares of GH traded down $0.90 during midday trading on Tuesday, hitting $58.57. 2,507,142 shares of the company traded hands, compared to its average volume of 2,398,465. The firm has a 50 day moving average of $49.42 and a 200-day moving average of $45.60. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $60.68. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of -17.48 and a beta of 1.43.

Guardant Health (NASDAQ:GH - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $211.19 million. During the same period in the previous year, the business posted ($0.84) EPS. The firm's revenue was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. Sell-side analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

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.