Iron Triangle Partners LP Makes New Investment in Guardant Health, Inc. $GH

Key Points

• Iron Triangle Partners LP purchased 600,867 shares of Guardant Health, Inc. for approximately $25.6 million, making it the firm's 10th largest holding.
• Guardant Health reported a quarterly revenue of $232.09 million, exceeding analysts' expectations by $20.9 million, and outperformed earnings estimates with a loss of ($0.44) per share.
• Several brokerages have increased their price targets for Guardant Health to $60.00, reflecting a consensus rating of "Buy" from analysts.

Iron Triangle Partners LP bought a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 600,867 shares of the company's stock, valued at approximately $25,597,000. Guardant Health comprises about 4.1% of Iron Triangle Partners LP's holdings, making the stock its 10th largest position. Iron Triangle Partners LP owned approximately 0.49% of Guardant Health at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GH. SVB Wealth LLC purchased a new stake in Guardant Health in the first quarter valued at $54,000. NewEdge Advisors LLC lifted its position in Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after acquiring an additional 230 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Guardant Health in the fourth quarter valued at $61,000. GF Fund Management CO. LTD. purchased a new stake in Guardant Health in the fourth quarter valued at $79,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Guardant Health in the first quarter valued at $97,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Amirali Talasaz sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the completion of the transaction, the chief executive officer owned 1,971,830 shares of the company's stock, valued at approximately $100,326,710.40. This represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Myrtle S. Potter sold 2,626 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.70, for a total transaction of $130,512.20. Following the transaction, the director directly owned 18,180 shares of the company's stock, valued at $903,546. This trade represents a 12.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,442 shares of company stock valued at $11,848,325 in the last ninety days. 6.10% of the stock is owned by company insiders.

Guardant Health Stock Up 4.6%

Shares of NASDAQ:GH traded up $2.95 during trading on Monday, reaching $67.42. The stock had a trading volume of 2,864,324 shares, compared to its average volume of 2,800,602. The business has a fifty day moving average price of $51.69 and a 200-day moving average price of $46.63. The stock has a market cap of $8.41 billion, a P/E ratio of -20.13 and a beta of 1.45. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $67.51.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.08. The company had revenue of $232.09 million for the quarter, compared to analyst estimates of $211.19 million. During the same period last year, the company posted ($0.84) EPS. The business's revenue for the quarter was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

Analysts Set New Price Targets

GH has been the subject of a number of research reports. Raymond James Financial boosted their price target on shares of Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Scotiabank raised their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Piper Sandler reissued an "overweight" rating and set a $60.00 price objective (up from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Evercore ISI raised shares of Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Mizuho raised 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 sixteen have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $57.50.

Guardant Health Company 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.