Tidal Investments LLC Has $3.69 Million Stock Position in Guardant Health, Inc. $GH

Key Points

• Tidal Investments increased its Guardant Health stake by 43.7% in the second quarter, holding 24,593 shares valued at approximately $3.69 million. Institutional investors collectively own 92.6% of the company.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year, and an adjusted loss of $0.42 per share that beat analyst expectations.
• Analysts remain broadly bullish, with 24 Buy or Strong Buy ratings and an average price target of $188.12, although insiders have sold roughly $67.1 million of stock over the past 90 days.

Tidal Investments LLC raised its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 43.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,593 shares of the company's stock after purchasing an additional 7,473 shares during the quarter. Tidal Investments LLC's holdings in Guardant Health were worth $3,690,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. ABS Investment Management LLC acquired a new position in shares of Guardant Health in the 2nd quarter valued at $345,069,000. MCF Advisors LLC increased its stake in Guardant Health by 755.0% in the second quarter. MCF Advisors LLC now owns 171 shares of the company's stock valued at $26,000 after acquiring an additional 151 shares during the period. TrinityBridge Ltd acquired a new position in Guardant Health in the second quarter worth about $45,000. Elyxium Wealth LLC acquired a new position in Guardant Health in the fourth quarter worth about $35,000. Finally, Global Retirement Partners LLC bought a new position in Guardant Health during the second quarter worth about $59,000. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Performance

Shares of GH opened at $167.84 on Tuesday. The business's fifty day moving average price is $159.70 and its two-hundred day moving average price is $125.37. The firm has a market capitalization of $22.52 billion, a price-to-earnings ratio of -48.09 and a beta of 1.57. Guardant Health, Inc. has a 52 week low of $53.40 and a 52 week high of $176.58.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million for the quarter, compared to analyst estimates of $314.23 million. The business's revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.44) earnings per share. As a group, research analysts forecast that Guardant Health, Inc. will post -2.98 EPS for the current year.

Insider Activity

In other news, insider Chris Freeman sold 63,605 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $169.58, for a total value of $10,786,135.90. Following the transaction, the insider owned 65,374 shares of the company's stock, valued at $11,086,122.92. This represents a 49.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ian Clark sold 14,180 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total value of $2,253,485.60. Following the completion of the transaction, the director owned 2,975 shares in the company, valued at $472,787. This represents a 82.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 426,908 shares of company stock worth $67,098,183. Corporate insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

GH has been the topic of a number of recent research reports. Bank of America lifted their price objective on Guardant Health from $135.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 6th. Mizuho boosted their price target on Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Barclays upped their price target on Guardant Health from $150.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Royal Bank Of Canada increased their price objective on Guardant Health from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, Stephens lifted their price objective on Guardant Health from $170.00 to $195.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $188.12.

Guardant Health Company Profile

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company's products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.

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