Informed Momentum Co LLC Takes Position in Guardant Health, Inc. (NASDAQ:GH)

Key Points

• Informed Momentum Co LLC acquired 107,896 shares of Guardant Health, Inc. in the first quarter, valued at approximately $4.6 million, making it the company's 19th largest holding.
• Guardant Health's stock has recently been upgraded to a "strong-buy" rating by Evercore ISI, and several analysts have increased their price targets, with a consensus target price of $57.50.
• The company reported a revenue increase of 31% year-over-year, beating consensus estimates and indicating positive financial momentum amidst ongoing transactions by corporate insiders.

Informed Momentum Co LLC acquired a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 107,896 shares of the company's stock, valued at approximately $4,596,000. Guardant Health accounts for 0.8% of Informed Momentum Co LLC's investment portfolio, making the stock its 19th biggest position. Informed Momentum Co LLC owned about 0.09% of Guardant Health as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of GH. Invesco Ltd. lifted its holdings in shares of Guardant Health by 100.9% in the first quarter. Invesco Ltd. now owns 2,794,667 shares of the company's stock valued at $119,053,000 after purchasing an additional 1,403,670 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Guardant Health by 96.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock valued at $70,742,000 after buying an additional 1,138,300 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Guardant Health in the fourth quarter valued at approximately $26,673,000. Emerald Advisers LLC acquired a new position in shares of Guardant Health in the first quarter valued at approximately $22,639,000. Finally, Two Sigma Investments LP raised its position in shares of Guardant Health by 38.5% in the fourth quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock valued at $57,761,000 after buying an additional 525,368 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GH has been the subject of several recent research reports. Evercore ISI raised shares of Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. 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 note on Thursday, May 1st. Mizuho increased their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. TD Securities increased their price objective on shares of Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Scotiabank increased their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Sixteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $57.50.

Guardant Health Stock Performance

NASDAQ:GH traded down $1.48 on Friday, hitting $58.88. 3,196,497 shares of the stock were exchanged, compared to its average volume of 3,142,794. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of -17.58 and a beta of 1.43. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $60.68. The company's 50-day moving average price is $49.22 and its 200 day moving average price is $45.56.

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

Insider Buying and Selling

In other Guardant Health news, Director Meghan V. Joyce sold 3,337 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.22, for a total transaction of $157,573.14. Following the completion of the sale, the director owned 11,150 shares of the company's stock, valued at $526,503. This trade represents a 23.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Musa Tariq sold 3,213 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total value of $158,947.11. Following the sale, the director directly owned 7,190 shares of the company's stock, valued at $355,689.30. This represents a 30.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,516 shares of company stock worth $11,848,754 in the last quarter. 6.10% of the stock is owned by company insiders.

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.