Penserra Capital Management LLC Takes Position in Guardant Health, Inc. (NASDAQ:GH)

Penserra Capital Management LLC acquired a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 52,293 shares of the company's stock, valued at approximately $2,227,000.

A number of other hedge funds have also recently made changes to their positions in GH. Vanguard Group Inc. boosted its position in shares of Guardant Health by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company's stock valued at $368,205,000 after acquiring an additional 350,606 shares during the last quarter. Deep Track Capital LP lifted 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 valued at $196,118,000 after buying an additional 419,006 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Guardant Health by 96.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock valued at $70,742,000 after acquiring an additional 1,138,300 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Guardant Health by 38.5% in the fourth quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock valued at $57,761,000 after acquiring an additional 525,368 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of Guardant Health by 15.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,464,213 shares of the company's stock valued at $44,732,000 after purchasing an additional 197,729 shares in the last quarter. Institutional investors own 92.60% of the company's stock.

Guardant Health Stock Down 2.0%

Shares of NASDAQ:GH traded down $1.04 during trading on Friday, hitting $50.25. 1,195,207 shares of the stock traded hands, compared to its average volume of 2,168,950. The company has a market cap of $6.23 billion, a price-to-earnings ratio of -14.82 and a beta of 1.44. The company has a fifty day moving average price of $45.70 and a two-hundred day moving average price of $43.70. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $53.42.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($0.57) by $0.08. The firm had revenue of $203.47 million during the quarter, compared to analysts' expectations of $189.91 million. During the same period in the previous year, the firm posted ($0.46) EPS. The firm's quarterly revenue was up 20.8% on a year-over-year basis. On average, equities research analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GH has been the subject of several recent research reports. Canaccord Genuity Group boosted their price target on Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Mizuho boosted their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Barclays boosted their price objective on shares of Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Scotiabank reaffirmed an "outperform" rating on shares of Guardant Health in a research report on Monday, May 5th. Finally, UBS Group upped their price target on Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Twenty-one research analysts have rated the stock with a buy rating, According to MarketBeat, Guardant Health has a consensus rating of "Buy" and an average target price of $53.76.

Insiders Place Their Bets

In other news, Director Myrtle S. Potter sold 2,626 shares of the business's stock in a transaction dated 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 owned 18,180 shares of the company's stock, valued at $903,546. The trade was a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Meghan V. Joyce sold 3,337 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $47.22, for a total value of $157,573.14. Following the sale, the director owned 11,150 shares of the company's stock, valued at approximately $526,503. This trade represents a 23.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 342,274 shares of company stock valued at $17,080,589. 6.10% of the stock is owned by 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.