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 disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,153 shares of the company's stock, valued at approximately $475,000.

Other hedge funds have also modified their holdings of the company. Natixis Advisors LLC acquired a new position in Guardant Health during the first quarter worth $984,000. Banque Cantonale Vaudoise acquired a new position in Guardant Health during the first quarter worth $366,000. Nkcfo LLC acquired a new position in Guardant Health during the first quarter worth $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $1,411,000 after buying an additional 2,641 shares during the last quarter. Finally, TD Asset Management Inc acquired a new position in Guardant Health during the first quarter worth $1,862,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 3,337 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $47.22, for a total value of $157,573.14. Following the completion of the transaction, the director directly owned 11,150 shares in the company, valued at $526,503. This represents a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ian T. Clark sold 6,672 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $48.38, for a total transaction of $322,791.36. Following the transaction, the director owned 9,851 shares of the company's stock, valued at approximately $476,591.38. This represents a 40.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,516 shares of company stock valued at $11,848,754 in the last three months. Corporate insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

GH has been the subject of several research reports. Raymond James Financial increased their target price on shares of Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Scotiabank raised their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price objective on Guardant Health from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Mizuho raised their price target on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, TD Securities boosted their price objective on shares of Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Nineteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $54.95.

Guardant Health Price Performance

NASDAQ GH traded up $1.44 during trading hours on Tuesday, reaching $45.63. 1,152,707 shares of the company's stock traded hands, compared to its average volume of 2,315,964. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $53.42. The firm has a market cap of $5.69 billion, a PE ratio of -13.63 and a beta of 1.43. The firm has a 50-day simple moving average of $47.33 and a 200 day simple moving average of $45.05.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.08. The company had revenue of $232.09 million for the quarter, compared to analysts' expectations of $211.19 million. Guardant Health's quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.84) earnings per share. Sell-side analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Guardant Health 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.