Pictet Asset Management Holding SA Sells 89,386 Shares of Guardant Health, Inc. $GH

Key Points

• Pictet Asset Management cut its stake in Guardant Health by 34.9% in Q4, selling 89,386 shares and leaving it with 166,384 shares (about 0.13%) worth roughly $16.88 million.
• Guardant reported Q4 EPS of -$0.50 (miss) and revenue of $281.27M (beat), with revenue up 39.4% year-over-year; analysts rate the stock a Moderate Buy with an average price target of $128.63.
• Insiders have sold 8,596 shares (~$775,767) in the last three months while institutional investors own about 92.6% of the shares, and the stock trades around $87.60 with a one-year range of $36.36–$120.74.

Pictet Asset Management Holding SA reduced its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,384 shares of the company's stock after selling 89,386 shares during the quarter. Pictet Asset Management Holding SA owned about 0.13% of Guardant Health worth $16,882,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Guardant Health in the fourth quarter valued at approximately $27,000. Chesapeake Asset Management LLC acquired a new stake in Guardant Health during the fourth quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Guardant Health during the 4th quarter worth $31,000. First Pacific Financial acquired a new position in Guardant Health in the 4th quarter valued at $43,000. Finally, Optiver Holding B.V. raised its holdings in Guardant Health by 153.5% in the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company's stock valued at $48,000 after acquiring an additional 465 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $87.60 on Friday. The company has a 50 day simple moving average of $89.30 and a 200 day simple moving average of $95.91. Guardant Health, Inc. has a 1 year low of $36.36 and a 1 year high of $120.74. The firm has a market cap of $11.61 billion, a PE ratio of -26.47 and a beta of 1.49.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The business had revenue of $281.27 million for the quarter, compared to analysts' expectations of $269.74 million. During the same period in the prior year, the business posted ($0.62) EPS. The business's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, research analysts anticipate that Guardant Health, Inc. will post -2.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GH has been the topic of a number of recent analyst reports. BTIG Research lifted their price objective on shares of Guardant Health from $140.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Raymond James Financial reaffirmed an "outperform" rating and issued a $129.00 target price on shares of Guardant Health in a report on Monday, February 23rd. Stifel Nicolaus boosted their price target on Guardant Health from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Guardant Health in a report on Tuesday, April 21st. Finally, Mizuho set a $135.00 target price on shares of Guardant Health in a research report on Friday, January 9th. Nineteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Guardant Health has an average rating of "Moderate Buy" and an average price target of $128.63.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 348 shares of the firm's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $88.09, for a total value of $30,655.32. Following the transaction, the director directly owned 8,394 shares of the company's stock, valued at approximately $739,427.46. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Medina Manuel Hidalgo sold 1,300 shares of Guardant Health stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $91.54, for a total transaction of $119,002.00. Following the transaction, the director owned 1,193 shares of the company's stock, valued at $109,207.22. This represents a 52.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,596 shares of company stock worth $775,767 in the last three months. Insiders own 6.10% 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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