Rhumbline Advisers Boosts Stock Position in Guardant Health, Inc. (NASDAQ:GH)

Rhumbline Advisers grew its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,432 shares of the company's stock after acquiring an additional 8,202 shares during the quarter. Rhumbline Advisers owned about 0.14% of Guardant Health worth $7,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Guardant Health during the fourth quarter worth approximately $43,000. Kimelman & Baird LLC purchased a new position in Guardant Health during the fourth quarter worth approximately $58,000. NewEdge Advisors LLC lifted its position in Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after buying an additional 230 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Guardant Health during the fourth quarter worth approximately $61,000. Finally, GF Fund Management CO. LTD. purchased a new position in Guardant Health during the fourth quarter worth approximately $79,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insiders Place Their Bets

In other news, CEO Amirali Talasaz sold 1,680 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $50.00, for a total value of $84,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,187,060 shares of the company's stock, valued at approximately $109,353,000. The trade was a 0.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 226,516 shares of company stock valued at $11,226,549 in the last ninety days. Insiders own 6.10% of the company's stock.

Guardant Health Trading Up 0.6%

GH traded up $0.27 on Friday, hitting $49.29. 1,939,986 shares of the company were exchanged, compared to its average volume of 2,130,965. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $52.92. The company has a market cap of $6.11 billion, a price-to-earnings ratio of -13.85 and a beta of 1.37. The firm has a 50-day moving average price of $43.72 and a two-hundred day moving average price of $41.60.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.57) by $0.08. The company had revenue of $203.47 million during the quarter, compared to the consensus estimate of $189.91 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. Guardant Health's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.46) EPS. Equities analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler reiterated an "overweight" rating and set a $60.00 price objective (up previously from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their target price on Guardant Health from $49.00 to $56.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Raymond James reissued an "outperform" rating and set a $59.00 target price (up previously from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Stifel Nicolaus raised their target price on Guardant Health from $53.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Stephens reissued an "overweight" rating and set a $55.00 target price on shares of Guardant Health in a research note on Wednesday, March 26th. Twenty-one equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Guardant Health currently has an average rating of "Buy" and a consensus target price of $53.76.

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.