Hsbc Holdings PLC Has $9.13 Million Stake in Guardant Health, Inc. $GH

Key Points

• HSBC Holdings PLC boosted its stake in Guardant Health by 1,069.6% in the first quarter, ending with 98,843 shares worth about $9.13 million.
• Guardant Health remains heavily owned by institutions, with 92.6% of shares held by institutional investors and hedge funds. Several firms also increased or initiated large positions during recent quarters.
• Analysts are generally constructive on the stock: the consensus rating is Moderate Buy with an average price target of $160.04, though Weiss Ratings issued a rare sell rating.

Hsbc Holdings PLC lifted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 1,069.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,843 shares of the company's stock after acquiring an additional 90,392 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Guardant Health worth $9,130,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Alyeska Investment Group L.P. bought a new position in Guardant Health during the third quarter worth $114,421,000. Price T Rowe Associates Inc. MD raised its position in shares of Guardant Health by 33.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company's stock valued at $575,670,000 after purchasing an additional 1,414,441 shares during the period. Norges Bank bought a new position in shares of Guardant Health in the fourth quarter valued at about $128,499,000. Summit Partners Public Asset Management LLC lifted its stake in shares of Guardant Health by 674.5% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company's stock worth $87,019,000 after buying an additional 741,958 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Guardant Health during the 4th quarter worth about $55,073,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Trading Down 1.0%

Shares of GH stock opened at $150.75 on Thursday. The stock has a market cap of $19.99 billion, a P/E ratio of -44.47 and a beta of 1.59. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $174.08. The stock has a 50 day simple moving average of $137.33 and a 200 day simple moving average of $111.36.

Analyst Ratings Changes

Several research analysts have weighed in on GH shares. Morgan Stanley increased their price target on shares of Guardant Health from $130.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. BTIG Research upped their target price on Guardant Health from $160.00 to $190.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. TD Cowen reiterated a "buy" rating on shares of Guardant Health in a research note on Thursday, July 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Guardant Health in a report on Friday, July 17th. Finally, Evercore restated an "outperform" rating and issued a $200.00 price target on shares of Guardant Health in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $160.04.

Insider Activity

In related news, CFO Michael Brian Bell sold 2,000 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $128.62, for a total transaction of $257,240.00. Following the completion of the sale, the chief financial officer owned 47,509 shares of the company's stock, valued at $6,110,607.58. This represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Helmy Eltoukhy sold 100,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the sale, the chief executive officer owned 2,012,919 shares in the company, valued at $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 708,565 shares of company stock worth $90,556,597. 5.60% of the stock is owned by insiders.

Guardant Health Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health's mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company's flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

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