Massachusetts Financial Services Co. MA Invests $20.30 Million in Guardant Health, Inc. (NASDAQ:GH)

Massachusetts Financial Services Co. MA acquired a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 476,499 shares of the company's stock, valued at approximately $20,299,000. Massachusetts Financial Services Co. MA owned 0.39% of Guardant Health as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after purchasing an additional 230 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Guardant Health in the fourth quarter worth $61,000. GF Fund Management CO. LTD. purchased a new position in Guardant Health during the fourth quarter valued at $79,000. Quantbot Technologies LP purchased a new position in Guardant Health during the fourth quarter valued at $80,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Guardant Health by 126.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,929 shares of the company's stock worth $89,000 after purchasing an additional 1,634 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Down 1.7%

Shares of Guardant Health stock traded down $0.82 on Friday, hitting $46.46. 1,769,359 shares of the company were exchanged, compared to its average volume of 2,181,257. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $53.42. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of -13.71 and a beta of 1.44. The company has a 50-day moving average price of $46.30 and a 200 day moving average price of $44.38.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.57) by $0.08. The firm had revenue of $203.47 million during the quarter, compared to analysts' expectations 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 previous year, the firm earned ($0.46) EPS. Research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

Insider Buying and Selling at Guardant Health

In related news, CEO Amirali Talasaz sold 100,000 shares of the business's stock in a transaction 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 in the company, valued at approximately $100,326,710.40. The trade was 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 the SEC website. Also, Director Ian T. Clark sold 6,672 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $48.38, for a total transaction of $322,791.36. Following the transaction, the director owned 9,851 shares of the company's stock, valued at approximately $476,591.38. The trade was a 40.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 342,300 shares of company stock valued at $17,082,238. Insiders own 6.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on GH. Piper Sandler reaffirmed an "overweight" rating and issued a $60.00 price objective (up previously from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. TD Securities upped their price objective on Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Mizuho increased their price target on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. UBS Group increased their price objective on Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus increased their price objective on Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Twenty analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Guardant Health has a consensus rating of "Buy" and an average target price of $54.45.

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.