Skandinaviska Enskilda Banken AB publ Makes New Investment in Guardant Health, Inc. (NASDAQ:GH)

Key Points

• Skandinaviska Enskilda Banken AB purchased a new stake in Guardant Health, Inc. during the 1st quarter, acquiring 24,298 shares valued at approximately $1,035,000.
• Several hedge funds have increased their positions in Guardant Health, with a majority of the stock, approximately 92.60%, owned by institutional investors.
• Wall Street analysts predict growth for Guardant Health, with multiple firms raising their price targets and the stock holding an average rating of "Buy" with a target price of $54.45.

Skandinaviska Enskilda Banken AB publ bought a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,298 shares of the company's stock, valued at approximately $1,035,000.

Several other hedge funds also recently modified their holdings of the business. NewEdge Advisors LLC lifted its holdings in 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 purchasing an additional 230 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Guardant Health during the 4th quarter worth $61,000. GF Fund Management CO. LTD. acquired a new stake in shares of Guardant Health in the fourth quarter valued at about $79,000. Quantbot Technologies LP acquired a new stake in shares of Guardant Health in the fourth quarter valued at about $80,000. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Guardant Health by 126.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,929 shares of the company's stock worth $89,000 after purchasing an additional 1,634 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Stock Performance

NASDAQ GH traded up $0.44 during trading hours on Friday, reaching $41.42. 3,158,545 shares of the company's stock were exchanged, compared to its average volume of 2,236,774. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of -12.36 and a beta of 1.43. The company's 50-day moving average is $47.21 and its two-hundred day moving average is $44.89. Guardant Health, Inc. has a one year low of $20.14 and a one year high of $53.42.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.08. The company had revenue of $232.09 million during the quarter, compared to the consensus estimate of $211.19 million. The company's revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.84) earnings per share. Research analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

GH has been the subject of several recent research reports. TD Securities upped their price target on Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. 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 report on Thursday, May 1st. Scotiabank lifted their price target on shares of Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Thursday. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $60.00 price objective (up from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $54.95.

Insider Activity at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 3,213 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total transaction of $158,947.11. Following the sale, the director directly owned 7,190 shares of the company's stock, valued at approximately $355,689.30. This represents a 30.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Myrtle S. Potter sold 2,626 shares of Guardant Health stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.70, for a total transaction of $130,512.20. Following the completion of the transaction, the director directly owned 18,180 shares of the company's stock, valued at approximately $903,546. This trade represents a 12.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,516 shares of company stock worth $11,848,754. Corporate insiders own 6.10% of the company's stock.

Guardant Health Company 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.