Quantbot Technologies LP Makes New Investment in Guardant Health, Inc. $GH

Key Points

• Quantbot Technologies acquired 16,402 Guardant Health shares worth approximately $2.46 million in the second quarter. Institutional investors collectively own 92.6% of the company.
• Guardant Health insiders sold 521,818 shares worth about $77.5 million over the past quarter, including substantial ownership reductions by an insider and a director.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $183.78 price target. The company also exceeded quarterly earnings and revenue estimates, reporting 44.3% year-over-year revenue growth.

Quantbot Technologies LP acquired a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 16,402 shares of the company's stock, valued at approximately $2,461,000.

Several other large investors also recently made changes to their positions in GH. Alyeska Investment Group L.P. bought a new stake in Guardant Health during the third quarter worth $114,421,000. Price T Rowe Associates Inc. MD grew its position in shares of Guardant Health by 33.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company's stock valued at $575,670,000 after acquiring an additional 1,414,441 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Guardant Health during the 2nd quarter worth about $196,737,000. Norges Bank bought a new stake in shares of Guardant Health in the 4th quarter valued at about $128,499,000. Finally, Summit Partners Public Asset Management LLC raised its holdings in shares of Guardant Health by 674.5% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company's stock valued at $87,019,000 after purchasing an additional 741,958 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Transactions at Guardant Health

In related news, insider Terilyn J. Monroe sold 46,300 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total value of $7,645,056.00. Following the transaction, the insider directly owned 22,979 shares in the company, valued at approximately $3,794,292.48. This represents a 66.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ian T. Clark sold 14,180 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the transaction, the director directly owned 2,975 shares in the company, valued at approximately $472,787. This represents a 82.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 521,818 shares of company stock worth $77,539,233. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GH shares. JPMorgan Chase & Co. lifted their price target on Guardant Health from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Bank of America raised their price objective on Guardant Health from $135.00 to $190.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Guardant Health in a research note on Friday, July 17th. Guggenheim boosted their target price on Guardant Health from $160.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, TD Cowen increased their price target on Guardant Health from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.78.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $170.69 on Monday. Guardant Health, Inc. has a 12-month low of $53.40 and a 12-month high of $176.58. The stock has a market cap of $22.91 billion, a PE ratio of -48.91 and a beta of 1.60. The business has a 50 day moving average of $153.91 and a 200-day moving average of $118.72.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.76) by $0.34. The firm had revenue of $334.98 million for the quarter, compared to the consensus estimate of $314.23 million. Guardant Health's revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) EPS. Equities research analysts expect that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Guardant Health Company 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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