Landscape Capital Management L.L.C. Purchases Shares of 13,135 Guardant Health, Inc. $GH

Key Points

• Landscape Capital Management acquired 13,135 Guardant Health shares valued at approximately $1.97 million, while institutional ownership reached 92.6% after several other funds opened positions.
• Analysts remain broadly bullish: 23 analysts rate the stock a Buy and the consensus price target is $183.78, compared with a recent price of $170.69.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year, and an adjusted loss of $0.42 per share—beating estimates for a $0.76 loss. However, insiders sold 521,818 shares worth $77.5 million over the past three months.

Landscape Capital Management L.L.C. acquired a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 13,135 shares of the company's stock, valued at approximately $1,971,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orbimed Advisors LLC purchased a new position in Guardant Health in the 1st quarter worth about $40,199,000. World Investment Advisors purchased a new stake in Guardant Health during the fourth quarter valued at about $1,664,000. GSA Capital Partners LLP acquired a new position in shares of Guardant Health in the second quarter worth about $1,772,000. SWS Partners acquired a new position in shares of Guardant Health in the second quarter worth about $11,190,000. Finally, Ninepoint Partners LP purchased a new position in shares of Guardant Health in the second quarter worth approximately $2,853,000. 92.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Terilyn J. Monroe sold 46,300 shares of Guardant Health stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total value of $7,645,056.00. Following the completion of the sale, the insider owned 22,979 shares of the company's stock, valued at approximately $3,794,292.48. The trade was a 66.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Freeman sold 63,605 shares of Guardant Health stock in a transaction on Monday, August 10th. The shares were sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the completion of the sale, the insider directly owned 65,374 shares of the company's stock, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 521,818 shares of company stock valued at $77,539,233. 5.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GH. Sanford C. Bernstein boosted their price target on shares of Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Thursday, July 2nd. Morgan Stanley lifted their price objective on shares of Guardant Health from $175.00 to $185.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. BTIG Research boosted their target price on shares of Guardant Health from $190.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, July 31st. The Goldman Sachs Group reissued a "buy" rating and set a $210.00 target price on shares of Guardant Health in a research note on Friday, July 31st. Finally, Citigroup increased their target price on Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Guardant Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.78.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $170.69 on Friday. The firm has a market cap of $22.91 billion, a price-to-earnings ratio of -48.91 and a beta of 1.60. Guardant Health, Inc. has a 52-week low of $53.40 and a 52-week high of $176.58. The stock has a 50-day simple moving average of $153.91 and a 200-day simple moving average of $118.69.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. The company's quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.44) EPS. As a group, equities research analysts predict that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

About Guardant Health

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health's mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company's flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

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