Osterweis Capital Management Inc. Makes New $12.63 Million Investment in Guardant Health, Inc. $GH

Key Points

• Osterweis Capital Management Inc. made a new investment of approximately $12.63 million in Guardant Health, acquiring 296,571 shares of the company's stock.
• Guardant Health's stock has received multiple upgrades from analysts, with Mizuho raising its price target from $60.00 to $65.00 and BTIG Research increasing it from $65.00 to $70.00.
• Insider selling activity was notable, with CEO Helmy Eltoukhy selling 300,000 shares for approximately $17.8 million, which has led to a 12.38% decrease in his ownership stake.

Osterweis Capital Management Inc. bought a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 296,571 shares of the company's stock, valued at approximately $12,634,000. Osterweis Capital Management Inc. owned approximately 0.24% of Guardant Health as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GH. Driehaus Capital Management LLC bought a new position in shares of Guardant Health in the 1st quarter worth $82,349,000. Invesco Ltd. lifted its holdings in shares of Guardant Health by 100.9% in the 1st quarter. Invesco Ltd. now owns 2,794,667 shares of the company's stock worth $119,053,000 after purchasing an additional 1,403,670 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Guardant Health by 96.7% in 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. Point72 Asset Management L.P. bought a new position in shares of Guardant Health in the 4th quarter worth $26,673,000. Finally, Iron Triangle Partners LP bought a new position in shares of Guardant Health in the 1st quarter worth $25,597,000. 92.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ian T. Clark sold 6,672 shares of the firm'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 completion of the sale, the director directly owned 9,851 shares of the company's stock, valued at $476,591.38. This trade represents a 40.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Helmy Eltoukhy sold 300,000 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the sale, the chief executive officer directly owned 2,123,499 shares of the company's stock, valued at approximately $126,242,015.55. This represents a 12.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 412,921 shares of company stock worth $23,558,346. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GH shares. Mizuho increased their target price on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. BTIG Research raised their price objective on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Scotiabank raised their price objective on Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Finally, Raymond James Financial raised their price objective on Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $58.24.

Guardant Health Trading Up 0.4%

Shares of NASDAQ:GH opened at $56.79 on Friday. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $68.00. The stock has a market cap of $7.08 billion, a PE ratio of -16.95 and a beta of 1.46. The stock's fifty day simple moving average is $53.71 and its two-hundred day simple moving average is $47.55.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) 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 analysts' expectations of $211.19 million. During the same period in the prior year, the business earned ($0.84) earnings per share. The company's revenue for the quarter was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast 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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