Janney Montgomery Scott LLC Acquires New Stake in Guardant Health, Inc. (NASDAQ:GH)

Janney Montgomery Scott LLC bought a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 5,446 shares of the company's stock, valued at approximately $232,000.

Several other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Guardant Health during the fourth quarter worth $43,000. Kimelman & Baird LLC acquired a new position in Guardant Health during the fourth quarter worth $58,000. NewEdge Advisors LLC raised its position in Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after acquiring an additional 230 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Guardant Health during the fourth quarter worth $61,000. Finally, GF Fund Management CO. LTD. acquired a new position in Guardant Health during the fourth quarter worth $79,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GH. TD Securities upped their price objective 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. Stephens restated an "overweight" rating and set a $55.00 price objective on shares of Guardant Health in a research report on Wednesday, March 26th. UBS Group increased their target price on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Scotiabank reiterated an "outperform" rating on shares of Guardant Health in a research report on Monday, May 5th. Finally, Mizuho increased their target price on shares of Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Twenty-one analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $53.76.

Insider Buying and Selling

In related news, CEO Amirali Talasaz sold 106,784 shares of Guardant Health stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $49.01, for a total value of $5,233,483.84. Following the completion of the transaction, the chief executive officer owned 2,202,672 shares in the company, valued at $107,952,954.72. The trade was a 4.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meghan V. Joyce sold 3,337 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 11,150 shares in the company, valued at approximately $526,503. The trade was a 23.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 342,274 shares of company stock valued at $17,080,589 over the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Guardant Health Stock Performance

Shares of GH traded up $1.28 during mid-day trading on Tuesday, hitting $50.82. 2,291,646 shares of the company's stock were exchanged, compared to its average volume of 2,166,879. The company has a market cap of $6.30 billion, a price-to-earnings ratio of -14.99 and a beta of 1.44. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $53.42. The stock's 50-day moving average is $45.48 and its 200-day moving average is $43.32.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.08. The business had revenue of $203.47 million for the quarter, compared to analyst estimates of $189.91 million. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.46) EPS. As a group, equities research analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current year.

About Guardant Health

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.