Teacher Retirement System of Texas Makes New Investment in Guardant Health, Inc. (NASDAQ:GH)

Teacher Retirement System of Texas acquired a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,331 shares of the company's stock, valued at approximately $866,000.

A number of other large investors have also added to or reduced their stakes in the company. Lisanti Capital Growth LLC bought a new stake in Guardant Health in the 1st quarter worth approximately $1,337,000. Oppenheimer & Co. Inc. bought a new position in shares of Guardant Health during the 1st quarter valued at approximately $442,000. Canton Hathaway LLC bought a new position in shares of Guardant Health during the 1st quarter valued at approximately $353,000. Janney Montgomery Scott LLC bought a new position in shares of Guardant Health during the 1st quarter valued at approximately $232,000. Finally, Fifth Third Bancorp bought a new position in shares of Guardant Health during the 1st quarter valued at approximately $279,000. Institutional investors own 92.60% of the company's stock.

Insider Buying and Selling

In other Guardant Health news, Director Musa Tariq sold 3,213 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $49.47, for a total value 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 trade represents a 30.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amirali Talasaz sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total value of $5,088,000.00. Following the completion of the transaction, the chief executive officer owned 1,971,830 shares in the company, valued at approximately $100,326,710.40. This trade represents a 4.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 342,274 shares of company stock valued at $17,080,589 in the last 90 days. Corporate insiders own 6.10% of the company's stock.

Analyst Ratings Changes

GH has been the topic of several analyst reports. Stifel Nicolaus boosted their target price on Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Scotiabank reaffirmed an "outperform" rating on shares of Guardant Health in a research report on Monday, May 5th. Stephens reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of Guardant Health in a research report on Wednesday, March 26th. TD Securities upped their price objective on Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $60.00 price objective (up previously from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Twenty-one equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Guardant Health presently has an average rating of "Buy" and a consensus target price of $53.76.

Guardant Health Stock Down 1.0%

Guardant Health stock opened at $49.77 on Tuesday. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of -14.68 and a beta of 1.44. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $53.42. The business's 50-day moving average price is $45.70 and its 200 day moving average price is $43.87.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.08. The company had revenue of $203.47 million for the quarter, compared to analyst estimates of $189.91 million. The firm's revenue was up 20.8% on a year-over-year basis. During the same period last year, the business earned ($0.46) earnings per share. Equities analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current year.

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.

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