Sumitomo Mitsui Trust Group Inc. Reduces Holdings in Guardant Health, Inc. (NASDAQ:GH)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,357,227 shares of the company's stock after selling 106,986 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 1.10% of Guardant Health worth $57,818,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC lifted its position in shares of Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after buying an additional 230 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Guardant Health by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company's stock worth $377,000 after acquiring an additional 391 shares in the last quarter. Arizona State Retirement System lifted its position in Guardant Health by 1.1% in the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company's stock valued at $1,089,000 after acquiring an additional 403 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Guardant Health by 43.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company's stock valued at $82,000 after acquiring an additional 817 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Guardant Health in the fourth quarter valued at $43,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GH has been the subject of a number of research analyst reports. Scotiabank reissued an "outperform" rating on shares of Guardant Health in a research report on Monday, May 5th. Stifel Nicolaus increased their price objective on Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Stephens restated an "overweight" rating and set a $55.00 target price on shares of Guardant Health in a research report on Wednesday, March 26th. UBS Group upped their price target on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Barclays upped their target price on shares of Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Twenty-one analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $53.76.

Insider Transactions at Guardant Health

In other news, Director Musa Tariq sold 3,213 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $49.47, for a total value of $158,947.11. Following the completion of the sale, the director owned 7,190 shares of the company's stock, valued at $355,689.30. This represents a 30.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, 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 disclosure for this sale can be found here. Insiders sold 242,274 shares of company stock worth $11,992,589 in the last quarter. 6.10% of the stock is owned by corporate insiders.

Guardant Health Stock Down 1.0%

Shares of GH traded down $0.53 during mid-day trading on Wednesday, hitting $50.18. The company had a trading volume of 1,843,706 shares, compared to its average volume of 2,158,033. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $53.42. The business's 50-day simple moving average is $45.26 and its 200-day simple moving average is $42.78. The stock has a market cap of $6.22 billion, a PE ratio of -14.80 and a beta of 1.44.

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

Guardant Health 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.