Invesco Ltd. Increases Holdings in Guardant Health, Inc. $GH

Key Points

• Invesco Ltd. has significantly increased its stake in Guardant Health, Inc. by 100.9%, now holding 2,794,667 shares valued at approximately $119.05 million.
• Analyst ratings for Guardant Health have been positive, with multiple brokerages raising their price targets to around $60 and maintaining buy and overweight ratings.
• Recent insider transactions show that directors have sold shares of the company, with total insider sales exceeding $11.8 million in the last quarter.

Invesco Ltd. lifted its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 100.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,794,667 shares of the company's stock after acquiring an additional 1,403,670 shares during the period. Invesco Ltd. owned approximately 2.26% of Guardant Health worth $119,053,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Guardant Health during the first quarter valued at approximately $384,000. PNC Financial Services Group Inc. grew its position in Guardant Health by 25.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company's stock worth $112,000 after purchasing an additional 537 shares during the period. US Bancorp DE grew its position in Guardant Health by 11.8% in the 1st quarter. US Bancorp DE now owns 36,698 shares of the company's stock worth $1,563,000 after purchasing an additional 3,876 shares during the period. Private Advisory Group LLC bought a new stake in Guardant Health in the 1st quarter worth approximately $475,000. Finally, Natixis Advisors LLC bought a new stake in Guardant Health in the 1st quarter worth approximately $984,000. Institutional investors own 92.60% of the company's stock.

Guardant Health Trading Down 0.2%

Shares of GH traded down $0.1150 during trading hours on Tuesday, reaching $59.3550. 658,414 shares of the stock traded hands, compared to its average volume of 2,386,349. 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 $49.42 and its two-hundred day moving average price is $45.60. The company has a market cap of $7.40 billion, a P/E ratio of -17.69 and a beta of 1.43.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.08. The firm had revenue of $232.09 million for the quarter, compared to analysts' expectations of $211.19 million. During the same quarter last year, the firm posted ($0.84) EPS. The firm's quarterly revenue was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. On average, research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GH shares. Evercore ISI raised shares of Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. TD Securities lifted their target price 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. Stifel Nicolaus lifted their target price on shares of Guardant Health from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Mizuho lifted their target price 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. Finally, UBS Group lifted their target price on shares of Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $57.50.

Insider Activity at Guardant Health

In other Guardant Health news, Director Myrtle S. Potter sold 2,626 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $49.70, for a total value of $130,512.20. Following the sale, the director owned 18,180 shares in the company, valued at $903,546. The trade was a 12.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian T. Clark sold 6,672 shares of the business's stock in a transaction on 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 sale, the director owned 9,851 shares in the company, valued at approximately $476,591.38. The trade was a 40.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,400 shares of company stock worth $11,844,110 in the last 90 days. Company 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.