Intech Investment Management LLC Boosts Position in Guardant Health, Inc. $GH

Key Points

• Intech Investment Management LLC has increased its stake in Guardant Health, Inc. by 37.3%, owning 60,187 shares valued at approximately $2.56 million after purchasing an additional 16,363 shares in the first quarter.
• Multiple institutional investors, including Driehaus Capital Management LLC and Invesco Ltd., have significantly boosted their holdings in Guardant Health, highlighting strong interest in the stock.
• Guardant Health's recent earnings report showed a revenue increase of 31% year-over-year, with an earnings per share of ($0.44), beating analysts' expectations.

Intech Investment Management LLC grew its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 37.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,187 shares of the company's stock after purchasing an additional 16,363 shares during the quarter. Intech Investment Management LLC's holdings in Guardant Health were worth $2,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SVB Wealth LLC purchased a new stake in shares of Guardant Health during the 1st quarter worth $54,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Guardant Health during the 4th quarter valued at approximately $61,000. GF Fund Management CO. LTD. bought a new position in Guardant Health during the fourth quarter worth $79,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Guardant Health in the first quarter worth $97,000. Finally, CWM LLC increased its holdings in shares of Guardant Health by 180.3% during the first quarter. CWM LLC now owns 2,296 shares of the company's stock valued at $98,000 after purchasing an additional 1,477 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Stock Performance

GH traded up $0.35 during trading on Friday, reaching $59.15. 2,807,903 shares of the stock were exchanged, compared to its average volume of 2,171,234. The stock has a market cap of $7.38 billion, a P/E ratio of -17.66 and a beta of 1.46. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $68.00. The stock's 50 day moving average price is $54.45 and its two-hundred day moving average price is $48.17.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.08. The firm had revenue of $232.09 million for the quarter, compared to the consensus estimate of $211.19 million. The company's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. Equities research analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GH. BTIG Research upped their target price on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Scotiabank increased 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. Raymond James Financial raised their price target on Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. Finally, Mizuho upped their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating and seventeen have given a Buy rating to the stock. Based on data from MarketBeat, Guardant Health has a consensus rating of "Buy" and an average target price of $58.24.

Insiders Place Their Bets

In related news, CEO Helmy Eltoukhy sold 300,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total value of $17,835,000.00. Following the transaction, the chief executive officer directly owned 2,123,499 shares in the company, valued at $126,242,015.55. This trade represents a 12.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $54.16, for a total value of $117,256.40. Following the completion of the sale, the director directly owned 851 shares of the company's stock, valued at $46,090.16. The trade was a 71.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 402,691 shares of company stock worth $23,069,965. Corporate insiders own 6.10% of the company's stock.

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.