Natixis Advisors LLC Buys New Holdings in Guardant Health, Inc. (NASDAQ:GH)

Key Points

• Natixis Advisors LLC has acquired a new stake in Guardant Health, Inc., purchasing 23,098 shares for approximately $984,000 in the first quarter.
• Guardant Health has seen significant interest from institutional investors, with over 92.60% of its stock now owned by such entities, including notable increases from Deep Track Capital LP and Two Sigma Advisers LP.
• Several Wall Street analysts have issued positive ratings and revised target prices for Guardant Health, with an average target price now set at $57.50, reflecting a bullish outlook on the stock's performance.

Natixis Advisors 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 and Exchange Commission. The fund bought 23,098 shares of the company's stock, valued at approximately $984,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Deep Track Capital LP increased its holdings in Guardant Health by 7.0% during the 4th quarter. Deep Track Capital LP now owns 6,419,566 shares of the company's stock worth $196,118,000 after purchasing an additional 419,006 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Guardant Health by 96.7% during the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock worth $70,742,000 after purchasing an additional 1,138,300 shares in the last quarter. Two Sigma Investments LP increased its holdings in Guardant Health by 38.5% during the 4th quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock worth $57,761,000 after purchasing an additional 525,368 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Guardant Health in the 4th quarter worth approximately $26,673,000. Finally, Blue Water Life Science Advisors LP boosted its stake in shares of Guardant Health by 53.9% in the 4th quarter. Blue Water Life Science Advisors LP now owns 694,047 shares of the company's stock worth $21,203,000 after buying an additional 243,000 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GH has been the topic of a number of research analyst reports. Piper Sandler restated an "overweight" rating and issued a $60.00 target price (up previously from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. Canaccord Genuity Group boosted their target price on Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Raymond James Financial boosted their target price on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. Finally, TD Securities boosted their target price on Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Sixteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $57.50.

Insider Activity

In other Guardant Health news, Director Ian T. Clark sold 6,672 shares of the 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 sale, the director owned 9,851 shares in the company, valued at $476,591.38. This represents a 40.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amirali Talasaz sold 100,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total value of $5,088,000.00. Following the sale, the chief executive officer owned 1,971,830 shares in the company, valued at approximately $100,326,710.40. This represents a 4.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,516 shares of company stock valued at $11,848,754. 6.10% of the stock is currently owned by corporate insiders.

Guardant Health Price Performance

NASDAQ:GH opened at $54.23 on Friday. The company has a market cap of $6.76 billion, a P/E ratio of -16.19 and a beta of 1.43. The stock's fifty day moving average price is $48.11 and its two-hundred day moving average price is $45.20. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $54.62.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate 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. The company's revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.84) EPS. On average, analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal 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.

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