IMA Advisory Services Inc. Reduces Position in Guardant Health, Inc. (NASDAQ:GH)

IMA Advisory Services Inc. lowered its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 91.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,402 shares of the company's stock after selling 14,246 shares during the quarter. IMA Advisory Services Inc.'s holdings in Guardant Health were worth $60,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Guardant Health by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company's stock valued at $368,205,000 after buying an additional 350,606 shares during the period. Deep Track Capital LP grew its position in shares of Guardant Health by 7.0% in the 4th quarter. Deep Track Capital LP now owns 6,419,566 shares of the company's stock valued at $196,118,000 after acquiring an additional 419,006 shares during the period. Two Sigma Advisers LP grew its position in shares of Guardant Health by 96.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock valued at $70,742,000 after acquiring an additional 1,138,300 shares during the period. Two Sigma Investments LP grew its position in shares of Guardant Health by 38.5% in the 4th quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock valued at $57,761,000 after acquiring an additional 525,368 shares during the period. Finally, Norges Bank bought a new position in shares of Guardant Health in the 4th quarter valued at about $36,438,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Stock Up 0.1%

GH stock traded up $0.04 during midday trading on Thursday, reaching $45.49. 1,326,700 shares of the company's stock traded hands, compared to its average volume of 1,851,054. The company has a market cap of $5.64 billion, a price-to-earnings ratio of -13.42 and a beta of 1.44. The firm's fifty day moving average price is $46.58 and its 200-day moving average price is $44.57. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $53.42.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. Guardant Health's revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) earnings per share. Analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective 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. Stifel Nicolaus increased their price objective on shares of Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Piper Sandler reissued an "overweight" rating and issued a $60.00 price objective (up from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Stephens reissued an "overweight" rating and issued a $55.00 price objective on shares of Guardant Health in a research report on Wednesday, March 26th. Finally, TD Securities raised their price target on shares of Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Twenty 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 MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $54.45.

Insider Activity

In related news, Director Meghan V. Joyce sold 3,337 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $47.22, for a total value of $157,573.14. Following the transaction, the director directly owned 11,150 shares of the company's stock, valued at approximately $526,503. The trade was a 23.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ian T. Clark sold 6,672 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $48.38, for a total transaction of $322,791.36. Following the completion of the transaction, the director directly owned 9,851 shares in the company, valued at $476,591.38. This trade represents a 40.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 342,300 shares of company stock worth $17,082,238. Company 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.