Sei Investments Co. Grows Stock Holdings in Guardant Health, Inc. $GH

Key Points

• Sei Investments increased its Guardant Health stake by 30.2% in the first quarter to 341,013 shares valued at approximately $31.5 million. Institutional investors collectively own 92.6% of GH.
• Wall Street remains broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $160.04. Analysts have recently raised targets as high as $215.
• Guardant Health shares opened at $145.47, near their 52-week high of $174.08, while insiders sold 708,565 shares worth about $90.6 million over the last quarter, primarily under pre-arranged trading plans.

Sei Investments Co. boosted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 30.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 341,013 shares of the company's stock after purchasing an additional 79,071 shares during the period. Sei Investments Co. owned about 0.26% of Guardant Health worth $31,499,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GH. World Investment Advisors purchased a new stake in shares of Guardant Health in the 4th quarter worth about $1,664,000. Capricorn Fund Managers Ltd lifted its holdings in Guardant Health by 197.8% in the fourth quarter. Capricorn Fund Managers Ltd now owns 107,787 shares of the company's stock worth $11,009,000 after buying an additional 71,587 shares during the period. F m Investments LLC boosted its position in Guardant Health by 24.1% during the 4th quarter. F m Investments LLC now owns 58,567 shares of the company's stock valued at $5,982,000 after acquiring an additional 11,363 shares in the last quarter. Legato Capital Management LLC boosted its position in Guardant Health by 140.7% during the 4th quarter. Legato Capital Management LLC now owns 26,076 shares of the company's stock valued at $2,663,000 after acquiring an additional 15,241 shares in the last quarter. Finally, Erste Asset Management GmbH grew its holdings in shares of Guardant Health by 48.3% during the 4th quarter. Erste Asset Management GmbH now owns 1,045,917 shares of the company's stock worth $106,781,000 after acquiring an additional 340,700 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GH has been the subject of several research reports. Morgan Stanley increased their target price on Guardant Health from $130.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Guggenheim upped their price target on Guardant Health from $160.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Barclays increased their price objective on Guardant Health from $120.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. UBS Group set a $150.00 price objective on Guardant Health in a research report on Wednesday, June 24th. Finally, Citigroup boosted their target price on shares of Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.04.

Insider Activity at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 210,000 shares of Guardant Health stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the completion of the transaction, the chief executive officer owned 1,886,504 shares in the company, valued at approximately $207,307,924.56. The trade was a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meghan V. Joyce sold 10,000 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $126.98, for a total value of $1,269,800.00. Following the completion of the sale, the director directly owned 11,183 shares in the company, valued at $1,420,017.34. This trade represents a 47.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 708,565 shares of company stock worth $90,556,597 over the last quarter. 5.60% of the stock is currently owned by company insiders.

Guardant Health Stock Down 1.3%

Shares of GH opened at $145.47 on Tuesday. The business's 50 day moving average price is $140.40 and its 200-day moving average price is $112.25. Guardant Health, Inc. has a 52 week low of $40.35 and a 52 week high of $174.08. The stock has a market cap of $19.29 billion, a P/E ratio of -42.91 and a beta of 1.59.

About Guardant Health

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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