Penserra Capital Management LLC Purchases New Stake in Guardant Health, Inc. (NASDAQ:GH)

Penserra Capital Management LLC purchased a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 52,293 shares of the company's stock, valued at approximately $2,227,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Guardant Health during the 4th quarter worth approximately $43,000. Kimelman & Baird LLC bought a new stake in shares of Guardant Health during the fourth quarter valued at about $58,000. NewEdge Advisors LLC boosted its holdings in shares of Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after acquiring an additional 230 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Guardant Health during the 4th quarter valued at $61,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Guardant Health in the 4th quarter valued at about $79,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Trading Up 0.4%

Shares of Guardant Health stock traded up $0.22 during trading on Wednesday, reaching $51.04. The company's stock had a trading volume of 1,659,848 shares, compared to its average volume of 2,170,834. Guardant Health, Inc. has a one year low of $20.14 and a one year high of $53.42. The stock has a market capitalization of $6.32 billion, a P/E ratio of -15.06 and a beta of 1.44. The stock has a 50-day moving average price of $45.58 and a two-hundred day moving average price of $43.43.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.08. The firm had revenue of $203.47 million for the quarter, compared to analyst estimates of $189.91 million. During the same period last year, the company earned ($0.46) EPS. The company's revenue was up 20.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Scotiabank restated an "outperform" rating on shares of Guardant Health in a report on Monday, May 5th. Canaccord Genuity Group raised their price target on shares of Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price target on Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 1st. TD Securities increased their target price on Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Stephens restated an "overweight" rating and set a $55.00 price objective on shares of Guardant Health in a report on Wednesday, March 26th. Twenty-one investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Guardant Health has a consensus rating of "Buy" and an average price target of $53.76.

Insiders Place Their Bets

In other Guardant Health news, Director Ian T. Clark sold 6,672 shares of Guardant Health stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $48.38, for a total value of $322,791.36. Following the transaction, the director owned 9,851 shares of the company's stock, valued at approximately $476,591.38. The trade was a 40.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amirali Talasaz sold 106,784 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the completion of the sale, the chief executive officer directly owned 2,202,672 shares in the company, valued at $107,952,954.72. This represents a 4.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 342,274 shares of company stock worth $17,080,589 over the last three months. Insiders own 6.10% of the company's stock.

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.