MPM Bioimpact LLC Sells 10,083 Shares of Guardant Health, Inc. $GH

Key Points

• MPM Bioimpact LLC sold 10,083 shares of Guardant Health, Inc., reducing its position by 2.2% to hold 442,656 shares worth approximately $18.86 million.
• Guardant Health shares increased by 4.6%, trading at $67.42 with a market cap of $8.41 billion, and reported a 31.0% year-over-year revenue growth.
• Analysts have a consensus "Buy" rating for Guardant Health, with price targets raised by several brokerages, reflecting a positive outlook for the company's performance.

MPM Bioimpact LLC trimmed its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 442,656 shares of the company's stock after selling 10,083 shares during the quarter. Guardant Health makes up approximately 3.2% of MPM Bioimpact LLC's holdings, making the stock its 11th largest position. MPM Bioimpact LLC owned 0.36% of Guardant Health worth $18,857,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in Guardant Health during the 1st quarter valued at approximately $232,000. Stifel Financial Corp boosted its position in shares of Guardant Health by 25.1% in the 4th quarter. Stifel Financial Corp now owns 49,927 shares of the company's stock worth $1,525,000 after purchasing an additional 10,006 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Guardant Health in the 1st quarter worth approximately $866,000. Fifth Third Bancorp bought a new stake in shares of Guardant Health in the 1st quarter worth approximately $279,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Guardant Health in the 1st quarter worth approximately $442,000. 92.60% of the stock is owned by institutional investors.

Guardant Health Stock Up 4.6%

Shares of NASDAQ GH opened at $67.42 on Tuesday. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $67.51. The firm has a market cap of $8.41 billion, a P/E ratio of -20.13 and a beta of 1.45. The company has a 50 day moving average of $52.07 and a 200 day moving average of $46.76.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.08. The company had revenue of $232.09 million for the quarter, compared to analysts' expectations of $211.19 million. Guardant Health's quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on GH. Raymond James Financial boosted their price target on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Piper Sandler reissued an "overweight" rating and issued a $60.00 price target (up from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Mizuho boosted their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Scotiabank boosted their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Finally, Evercore ISI upgraded shares of Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $57.50.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 3,337 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $47.22, for a total transaction of $157,573.14. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Musa Tariq sold 3,213 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total transaction of $158,947.11. Following the sale, the director owned 7,190 shares of the company's stock, valued at approximately $355,689.30. This represents a 30.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 235,442 shares of company stock worth $11,848,325. 6.10% of the stock is owned by corporate insiders.

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.

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