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

Janney Montgomery Scott LLC bought a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,446 shares of the company's stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Guardant Health during the fourth quarter worth about $36,438,000. Two Sigma Advisers LP increased its stake in shares of Guardant Health by 96.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock worth $70,742,000 after acquiring an additional 1,138,300 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Guardant Health during the fourth quarter worth about $26,673,000. Two Sigma Investments LP increased its stake in shares of Guardant Health by 38.5% during the fourth quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock worth $57,761,000 after acquiring an additional 525,368 shares during the period. Finally, Polar Asset Management Partners Inc. increased its stake in shares of Guardant Health by 1,902.2% during the fourth quarter. Polar Asset Management Partners Inc. now owns 454,500 shares of the company's stock worth $13,885,000 after acquiring an additional 431,800 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Guardant Health

In related news, CEO Amirali Talasaz sold 100,000 shares of the business'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 value of $5,088,000.00. Following the sale, the chief executive officer directly owned 1,971,830 shares in the company, valued at $100,326,710.40. The trade was a 4.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Meghan V. Joyce sold 3,337 shares of the business'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 completion of the sale, the director owned 11,150 shares in the company, valued at $526,503. The trade was a 23.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 342,274 shares of company stock worth $17,080,589 in the last three months. Insiders own 6.10% of the company's stock.

Guardant Health Stock Performance

Shares of NASDAQ GH traded up $0.25 during midday trading on Thursday, hitting $51.29. The company's stock had a trading volume of 1,773,220 shares, compared to its average volume of 2,174,595. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $53.42. The firm's fifty day moving average price is $45.63 and its 200-day moving average price is $43.57. The firm has a market cap of $6.35 billion, a P/E ratio of -15.13 and a beta of 1.44.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group upped 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. Barclays increased their price target on shares of Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Stifel Nicolaus increased their price target on shares of Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Canaccord Genuity Group increased their price target on shares of Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Mizuho increased their price target 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Guardant Health has an average rating of "Buy" and an average target price of $53.76.

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.