Nuveen LLC Takes Position in Guardant Health, Inc. $GH

Key Points

• Nuveen LLC purchased 74,826 shares of Guardant Health for approximately $3.15 million, marking a new investment as of Q1.
• Guardant Health reported a revenue of $232.09 million for the last quarter, exceeding analysts' expectations by 9.0% and showing a 31.0% increase year-over-year.
• Analyst ratings have been generally positive, with several brokerages raising their price targets, resulting in a consensus price target of $57.50 for the stock.

Nuveen LLC bought a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 74,826 shares of the company's stock, valued at approximately $3,151,000. Nuveen LLC owned approximately 0.06% of Guardant Health at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Aigen Investment Management LP increased its position in shares of Guardant Health by 9.0% in the first quarter. Aigen Investment Management LP now owns 28,298 shares of the company's stock worth $1,205,000 after acquiring an additional 2,341 shares in the last quarter. Invesco Ltd. increased its position in shares of Guardant Health by 100.9% in the first quarter. Invesco Ltd. now owns 2,794,667 shares of the company's stock worth $119,053,000 after acquiring an additional 1,403,670 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Guardant Health in the first quarter worth approximately $384,000. PNC Financial Services Group Inc. increased its position in shares of Guardant Health by 25.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company's stock worth $112,000 after acquiring an additional 537 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Guardant Health by 11.8% in the first quarter. US Bancorp DE now owns 36,698 shares of the company's stock worth $1,563,000 after acquiring an additional 3,876 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Trading Up 4.6%

Shares of NASDAQ:GH traded up $2.95 during trading on Friday, hitting $67.42. 2,864,324 shares of the company's stock traded hands, compared to its average volume of 2,800,602. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $67.51. The company has a 50-day moving average price of $51.69 and a 200-day moving average price of $46.63.

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

Insider Activity

In other Guardant Health news, CEO Amirali Talasaz sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the transaction, the chief executive officer owned 1,971,830 shares of the company's stock, 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 Myrtle S. Potter sold 2,626 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.70, for a total value of $130,512.20. Following the transaction, the director directly owned 18,180 shares in the company, valued at $903,546. This trade represents a 12.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 235,542 shares of company stock worth $11,852,491. Corporate insiders own 6.10% of the company's stock.

Analyst Ratings Changes

GH has been the subject of a number of research analyst reports. Scotiabank increased their price target on shares of Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Evercore ISI raised shares of Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Mizuho raised their price target on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Raymond James Financial increased their price objective on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Piper Sandler restated 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. One 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 stock currently has a consensus rating of "Buy" and a consensus price target of $57.50.

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.