Rhumbline Advisers Purchases 8,202 Shares of Guardant Health, Inc. $GH

Key Points

• Rhumbline Advisers increased its holdings in Guardant Health by 4.9%, acquiring an additional 8,202 shares, thus owning approximately 175,432 shares valued at around $7.47 million.
• Guardant Health reported a revenue increase of 31.0% year-over-year, with earnings of ($0.44) per share, exceeding expectations.
• Multiple research firms have raised their price targets for Guardant Health, with Mizuho setting a target of $65.00 and BTIG Research at $70.00, reflecting strong confidence in the company's growth potential.

Rhumbline Advisers grew its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,432 shares of the company's stock after purchasing an additional 8,202 shares during the period. Rhumbline Advisers owned approximately 0.14% of Guardant Health worth $7,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of Guardant Health by 0.3% in the 1st quarter. American Century Companies Inc. now owns 104,206 shares of the company's stock valued at $4,439,000 after purchasing an additional 282 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Guardant Health by 0.9% in the 1st quarter. HighTower Advisors LLC now owns 51,107 shares of the company's stock worth $2,177,000 after acquiring an additional 469 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Guardant Health by 25.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company's stock worth $112,000 after acquiring an additional 537 shares during the last quarter. GF Fund Management CO. LTD. grew its position in Guardant Health by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,164 shares of the company's stock worth $135,000 after acquiring an additional 570 shares during the last quarter. Finally, Xponance Inc. grew its position in Guardant Health by 6.8% during the 1st quarter. Xponance Inc. now owns 9,116 shares of the company's stock worth $388,000 after acquiring an additional 582 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GH shares. Scotiabank increased their price target on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Raymond James Financial increased their price target on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Mizuho upped their price objective on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Finally, BTIG Research increased their price objective on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $58.24.

Insider Buying and Selling at Guardant Health

In related news, Director Ian T. Clark sold 6,672 shares of the firm'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 sale, the director owned 9,851 shares of the company's stock, valued at approximately $476,591.38. This trade represents a 40.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Helmy Eltoukhy sold 300,000 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total value of $17,835,000.00. Following the sale, the chief executive officer directly owned 2,123,499 shares in the company, valued at $126,242,015.55. The trade was a 12.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 412,921 shares of company stock worth $23,558,346 in the last three months. 6.10% of the stock is owned by insiders.

Guardant Health Price Performance

Shares of GH stock traded down $1.89 during trading hours on Friday, reaching $54.90. The company had a trading volume of 2,780,184 shares, compared to its average volume of 2,215,055. The company has a 50 day moving average of $53.81 and a 200 day moving average of $47.72. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of -16.39 and a beta of 1.45. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $68.00.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly 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 during the quarter, compared to analyst estimates of $211.19 million. The business's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period last year, the company earned ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. As a group, 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.