TD Asset Management Inc Invests $1.86 Million in Guardant Health, Inc. (NASDAQ:GH)

Key Points

• TD Asset Management Inc has invested approximately $1.86 million in Guardant Health, acquiring 43,714 shares during the first quarter.
• Guardant Health's stock has shown a recent increase of 1.1%, currently opening at $41.42 with a market cap of $5.17 billion.
• Analysts have positive outlooks with multiple firms raising their price targets for Guardant Health, forecasting a consensus target price of $54.95.

TD Asset Management Inc acquired a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 43,714 shares of the company's stock, valued at approximately $1,862,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after acquiring an additional 230 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Guardant Health during the 4th quarter valued at about $61,000. GF Fund Management CO. LTD. purchased a new position in Guardant Health during the 4th quarter valued at about $79,000. TD Waterhouse Canada Inc. grew its stake in Guardant Health by 126.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,929 shares of the company's stock valued at $89,000 after acquiring an additional 1,634 shares in the last quarter. Finally, CWM LLC grew its stake in Guardant Health by 180.3% during the 1st quarter. CWM LLC now owns 2,296 shares of the company's stock valued at $98,000 after acquiring an additional 1,477 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Insiders Place Their Bets

In related news, Director Myrtle S. Potter sold 2,626 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.70, for a total value of $130,512.20. Following the transaction, the director owned 18,180 shares in the company, valued at $903,546. This trade represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meghan V. Joyce sold 3,337 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $47.22, for a total value of $157,573.14. Following the completion of the transaction, the director owned 11,150 shares in the company, valued at approximately $526,503. This represents a 23.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,516 shares of company stock valued at $11,848,754 over the last 90 days. Corporate insiders own 6.10% of the company's stock.

Guardant Health Stock Up 6.9%

Guardant Health stock traded up $3.50 during mid-day trading on Friday, hitting $53.89. 2,972,417 shares of the company were exchanged, compared to its average volume of 2,373,447. The business has a fifty day moving average of $47.84 and a 200 day moving average of $45.15. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $54.62. The company has a market capitalization of $6.72 billion, a PE ratio of -16.06 and a beta of 1.43.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.08. The business had revenue of $232.09 million for the quarter, compared to the consensus estimate of $211.19 million. Guardant Health's revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.84) EPS. Research analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GH shares. Stifel Nicolaus boosted their price target on Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Evercore ISI raised Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. Mizuho boosted their price target on Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Raymond James Financial boosted their price target on Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Canaccord Genuity Group boosted their price target on Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $54.95.

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.