Rhumbline Advisers Has $7.47 Million Stake in Guardant Health, Inc. (NASDAQ:GH)

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

Several other institutional investors and hedge funds also recently made changes to their positions in GH. SBI Securities Co. Ltd. bought a new stake in Guardant Health in the fourth quarter valued at about $43,000. Kimelman & Baird LLC bought a new position in Guardant Health during the 4th quarter worth approximately $58,000. NewEdge Advisors LLC grew its position in shares of Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after acquiring an additional 230 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Guardant Health in the 4th quarter valued at approximately $61,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Guardant Health during the 4th quarter valued at approximately $79,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GH. Canaccord Genuity Group lifted their price target on shares of Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Scotiabank reissued an "outperform" rating on shares of Guardant Health in a report on Monday, May 5th. Morgan Stanley upped their price target on shares of Guardant Health from $42.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target on Guardant Health from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Finally, Piper Sandler reissued an "overweight" rating and issued a $60.00 price objective (up from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Twenty research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $53.29.

Insider Activity

In other Guardant Health news, CEO Amirali Talasaz sold 106,784 shares of Guardant Health stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the completion of the sale, the chief executive officer now owns 2,202,672 shares of the company's stock, valued at $107,952,954.72. This trade represents a 4.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 226,516 shares of company stock worth $11,226,549. 6.10% of the stock is owned by corporate insiders.

Guardant Health Stock Performance

Shares of NASDAQ:GH traded down $0.01 during trading hours on Thursday, hitting $49.02. 1,250,531 shares of the company's stock traded hands, compared to its average volume of 2,124,938. The company's fifty day simple moving average is $43.39 and its two-hundred day simple moving average is $41.36. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -13.77 and a beta of 1.37. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $52.92.

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

About Guardant Health

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.