Janney Montgomery Scott LLC Purchases 15,128 Shares of Guardant Health, Inc. $GH

Key Points

• Janney Montgomery Scott LLC significantly increased its stake in Guardant Health, Inc. by 277.8% during the second quarter, acquiring an additional 15,128 shares to hold a total of 20,574 shares valued at approximately $1,071,000.
• Guardant Health's stock has shown strong performance, trading at $61.73 with a market capitalization of $7.70 billion, and reporting a 31% revenue increase year-over-year.
• Multiple analysts have issued positive reports on Guardant Health, with price targets raised to as high as $72.00, resulting in a consensus rating of "Moderate Buy."

Janney Montgomery Scott LLC lifted its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 277.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,574 shares of the company's stock after acquiring an additional 15,128 shares during the period. Janney Montgomery Scott LLC's holdings in Guardant Health were worth $1,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp purchased a new position in shares of Guardant Health during the first quarter worth approximately $279,000. Canton Hathaway LLC acquired a new stake in shares of Guardant Health during the first quarter worth $353,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Guardant Health during the first quarter worth $442,000. Lisanti Capital Growth LLC acquired a new position in Guardant Health in the 1st quarter worth approximately $1,337,000. Finally, Teacher Retirement System of Texas acquired a new position in Guardant Health in the 1st quarter worth approximately $866,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

Guardant Health stock opened at $61.73 on Tuesday. The stock's fifty day moving average is $59.78 and its two-hundred day moving average is $50.34. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of -18.43 and a beta of 1.53. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $68.00.

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, topping the consensus estimate of ($0.52) by $0.08. The business had revenue of $232.09 million for the quarter, compared to analysts' expectations of $211.19 million. The business's quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GH has been the subject of a number of analyst reports. Cowen reiterated a "buy" rating on shares of Guardant Health in a research report on Thursday, September 25th. JPMorgan Chase & Co. upped their price target on shares of Guardant Health from $60.00 to $70.00 and gave the stock an "overweight" rating in a research report on Thursday, September 25th. Evercore ISI increased their price objective on shares of Guardant Health from $60.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, October 7th. William Blair reissued an "outperform" rating on shares of Guardant Health in a research note on Thursday, September 25th. Finally, Wells Fargo & Company initiated coverage on shares of Guardant Health in a research note on Monday, September 22nd. They issued an "overweight" rating and a $72.00 price target for the company. Twenty-three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.86.

Insider Activity

In other Guardant Health news, CEO Helmy Eltoukhy sold 300,000 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the transaction, the chief executive officer owned 2,123,499 shares in the company, valued at $126,242,015.55. The trade was a 12.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $54.16, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,691 shares of company stock worth $17,981,965. 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.

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