11,153 Shares in Guardant Health, Inc. (NASDAQ:GH) Bought by Private Advisory Group LLC

Key Points

• Private Advisory Group LLC has acquired a new stake in Guardant Health, Inc., purchasing 11,153 shares valued at approximately $475,000 in the first quarter.
• Guardant Health exceeded analysts' expectations with a quarterly revenue of $232.09 million, representing a 31% increase compared to the same period last year.
• Multiple analysts have upgraded their price targets for Guardant Health, with a consensus average target price of $54.95 and most ratings classified as "buy."

Private Advisory Group LLC purchased a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,153 shares of the company's stock, valued at approximately $475,000.

A number of other large investors also recently added to or reduced their stakes in the business. Natixis Advisors LLC purchased a new position in Guardant Health during the 1st quarter valued at approximately $984,000. Banque Cantonale Vaudoise purchased a new position in Guardant Health during the 1st quarter valued at approximately $366,000. Nkcfo LLC purchased a new position in Guardant Health during the 1st quarter valued at approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Guardant Health by 8.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,129 shares of the company's stock valued at $1,411,000 after purchasing an additional 2,641 shares during the period. Finally, TD Asset Management Inc purchased a new stake in Guardant Health during the first quarter valued at approximately $1,862,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Trading Up 1.1%

NASDAQ:GH traded up $0.44 during trading hours on Friday, reaching $41.42. 3,158,545 shares of the company were exchanged, compared to its average volume of 2,236,774. The stock's 50-day moving average is $47.21 and its 200-day moving average is $44.95. The firm has a market cap of $5.17 billion, a PE ratio of -12.36 and a beta of 1.43. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $53.42.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.08. The business had revenue of $232.09 million for the quarter, compared to analyst estimates of $211.19 million. During the same period last year, the firm earned ($0.84) EPS. The company's revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, research analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current year.

Analysts Set New Price Targets

GH has been the topic of several recent analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $60.00 price target (up from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Mizuho increased their price target on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Scotiabank increased their price objective on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Thursday. Raymond James Financial raised their price objective on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Barclays raised their price objective on Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $54.95.

Insiders Place Their Bets

In other news, Director Myrtle S. Potter sold 2,626 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $49.70, for a total value of $130,512.20. Following the transaction, the director owned 18,180 shares of the company's stock, valued at $903,546. This represents a 12.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ian T. Clark sold 6,672 shares of Guardant Health stock in a transaction 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 completion of the sale, the director directly owned 9,851 shares of the company's stock, valued at $476,591.38. The trade was a 40.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 235,516 shares of company stock worth $11,848,754. 6.10% of the stock is currently owned by company insiders.

Guardant Health Company Profile

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.