Parkman Healthcare Partners LLC Acquires Shares of 89,329 Guardant Health, Inc. $GH

Key Points

• Parkman Healthcare Partners LLC acquired 89,329 shares of Guardant Health, valued at approximately $3.8 million, representing about 0.07% ownership in the company.
• Guardant Health reported a quarterly revenue of $232.09 million, exceeding analyst expectations and showing a 31.0% year-over-year growth.
• Insider trading saw significant activity, with CEO Amirali Talasaz selling 100,000 shares worth over $5 million, which decreased his ownership by 4.83%.

Parkman Healthcare Partners LLC bought a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 89,329 shares of the company's stock, valued at approximately $3,805,000. Parkman Healthcare Partners LLC owned 0.07% of Guardant Health at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Guardant Health by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,236 shares of the company's stock worth $3,035,000 after acquiring an additional 4,056 shares during the period. Cinctive Capital Management LP acquired a new stake in Guardant Health during the 1st quarter worth about $3,991,000. AQR Capital Management LLC grew its holdings in Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company's stock worth $3,012,000 after acquiring an additional 25,831 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Guardant Health by 202.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 846,749 shares of the company's stock worth $36,072,000 after acquiring an additional 566,949 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Guardant Health by 19.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 578,346 shares of the company's stock worth $24,638,000 after acquiring an additional 95,458 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Trading Down 1.2%

GH traded down $0.73 during trading on Tuesday, hitting $59.44. 2,551,556 shares of the company traded hands, compared to its average volume of 2,328,687. The company has a market cap of $7.41 billion, a PE ratio of -17.74 and a beta of 1.46. The stock's 50-day simple moving average is $53.46 and its two-hundred day simple moving average is $47.39. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $68.00.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) 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 the consensus estimate of $211.19 million. During the same quarter last year, the business earned ($0.84) EPS. Guardant Health'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. Equities analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Guardant Health

In other news, Director Ian T. Clark sold 6,672 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $48.38, for a total value of $322,791.36. Following the sale, the director directly owned 9,851 shares in the company, valued at $476,591.38. The trade was a 40.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $49.70, for a total transaction of $130,512.20. Following the completion of the sale, the director directly owned 18,180 shares in the company, valued at approximately $903,546. This represents a 12.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,258 shares of company stock worth $5,880,919. 6.10% of the stock is currently 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.