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

Other hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC increased its position 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 in the fourth quarter worth approximately $61,000. GF Fund Management CO. LTD. bought a new position in Guardant Health during the fourth quarter valued at approximately $79,000. TD Waterhouse Canada Inc. lifted its stake in Guardant Health by 126.2% in the fourth 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 during the last quarter. Finally, CWM LLC grew its position in Guardant Health by 180.3% in the first quarter. CWM LLC now owns 2,296 shares of the company's stock worth $98,000 after acquiring an additional 1,477 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Activity

In other Guardant Health news, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $49.70, for a total transaction of $130,512.20. Following the sale, the director directly owned 18,180 shares in the company, valued at $903,546. This represents a 12.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amirali Talasaz sold 100,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total value of $5,088,000.00. Following the transaction, the chief executive officer directly owned 1,971,830 shares of the company's stock, valued at $100,326,710.40. The trade was a 4.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 235,516 shares of company stock valued at $11,848,754 in the last 90 days. 6.10% of the stock is owned by insiders.

Guardant Health Stock Performance

Guardant Health stock traded down $1.58 during mid-day trading on Wednesday, hitting $44.59. The company's stock had a trading volume of 3,116,126 shares, compared to its average volume of 2,404,082. Guardant Health, Inc. has a one year low of $20.14 and a one year high of $53.42. The stock has a market cap of $5.56 billion, a PE ratio of -13.31 and a beta of 1.43. The company has a 50 day moving average of $47.47 and a 200-day moving average of $45.06.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.08. The company had revenue of $232.09 million during the quarter, compared to analysts' expectations of $211.19 million. During the same period in the prior year, the business posted ($0.84) EPS. The company's quarterly revenue was up 31.0% on a year-over-year basis. On average, equities research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on GH shares. Piper Sandler reaffirmed an "overweight" rating and issued a $60.00 price target (up from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Canaccord Genuity Group raised their price target on Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 1st. 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. UBS Group boosted their target price on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, TD Securities increased their price target on shares of Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $54.95.

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.