Osterweis Capital Management Inc. Purchases Shares of 97,320 Guardant Health, Inc. $GH

Key Points

• Osterweis Capital Management initiated a 97,320-share Guardant Health position worth approximately $14.6 million, while institutional investors collectively owned 92.6% of the company.
• Analysts remain broadly bullish, with 23 Buy ratings and one Strong Buy versus one Sell; the consensus price target is $183.78, above the reported share price of $163.18.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year, and an adjusted loss of $0.42 per share that beat estimates. However, insiders sold roughly 559,318 shares worth $83.9 million over the prior 90 days.

Osterweis Capital Management Inc. purchased a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 97,320 shares of the company's stock, valued at approximately $14,601,000. Osterweis Capital Management Inc. owned approximately 0.07% of Guardant Health at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Orbimed Advisors LLC purchased a new stake in shares of Guardant Health in the 1st quarter valued at about $40,199,000. World Investment Advisors purchased a new position in shares of Guardant Health during the fourth quarter worth about $1,664,000. Ninepoint Partners LP purchased a new position in shares of Guardant Health during the second quarter worth about $2,853,000. GSA Capital Partners LLP purchased a new position in shares of Guardant Health during the second quarter worth about $1,772,000. Finally, SWS Partners bought a new position in shares of Guardant Health in the second quarter worth approximately $11,190,000. Institutional investors own 92.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Guggenheim raised their target price on shares of Guardant Health from $160.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Royal Bank Of Canada boosted their price target on shares of Guardant Health from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. The Goldman Sachs Group reissued a "buy" rating and issued a $210.00 price target on shares of Guardant Health in a report on Friday, July 31st. Canaccord Genuity Group raised their price objective on shares of Guardant Health from $135.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Evercore reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Guardant Health in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Guardant Health has an average rating of "Moderate Buy" and a consensus price target of $183.78.

Guardant Health Trading Down 4.4%

Shares of Guardant Health stock opened at $163.18 on Tuesday. The firm has a market capitalization of $21.90 billion, a PE ratio of -46.76 and a beta of 1.60. Guardant Health, Inc. has a 12 month low of $53.40 and a 12 month high of $176.58. The business's 50-day moving average price is $154.58 and its 200-day moving average price is $119.07.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million during the quarter, compared to analysts' expectations of $314.23 million. During the same quarter last year, the business earned ($0.44) earnings per share. The business's quarterly revenue was up 44.3% on a year-over-year basis. As a group, analysts predict that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guardant Health news, Director Ian T. Clark sold 14,180 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the completion of the sale, the director directly owned 2,975 shares in the company, valued at approximately $472,787. The trade was a 82.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Medina Manuel Hidalgo sold 1,700 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $164.24, for a total transaction of $279,208.00. Following the sale, the director owned 4,556 shares of the company's stock, valued at approximately $748,277.44. This represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 559,318 shares of company stock worth $83,882,733 in the last 90 days. Insiders own 5.60% of the company's stock.

Guardant Health Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health's mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company's flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

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