Triasima Portfolio Management inc. Buys New Shares in Guardant Health, Inc. $GH

Key Points

• Triasima Portfolio Management initiated a Guardant Health position in the third quarter, purchasing 34,139 shares worth approximately $6.1 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—better than analysts’ expected $0.76 loss.
• Analyst sentiment remains positive, with an average “Moderate Buy” rating and a $190 price target; however, insiders sold about $30.1 million of shares during the latest quarter.

Triasima Portfolio Management inc. bought a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,139 shares of the company's stock, valued at approximately $6,089,000.

Other large investors have also modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Guardant Health by 12.4% in the second quarter. Allworth Financial LP now owns 1,072 shares of the company's stock valued at $161,000 after buying an additional 118 shares in the last quarter. GAMMA Investing LLC grew its holdings in Guardant Health by 14.5% during the second quarter. GAMMA Investing LLC now owns 965 shares of the company's stock worth $145,000 after acquiring an additional 122 shares during the period. First Pacific Financial raised its position in Guardant Health by 33.1% in the first quarter. First Pacific Financial now owns 559 shares of the company's stock worth $52,000 after acquiring an additional 139 shares in the last quarter. ABS Investment Management LLC purchased a new position in Guardant Health in the second quarter worth $345,069,000. Finally, MCF Advisors LLC raised its position in Guardant Health by 755.0% in the second quarter. MCF Advisors LLC now owns 171 shares of the company's stock worth $26,000 after acquiring an additional 151 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Price Performance

GH opened at $165.88 on Friday. The stock has a market cap of $22.26 billion, a P/E ratio of -47.53 and a beta of 1.58. The stock's 50 day simple moving average is $168.14 and its 200 day simple moving average is $139.02. Guardant Health, Inc. has a 1-year low of $64.00 and a 1-year high of $191.05.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.34. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.44) earnings per share. Research analysts expect that Guardant Health, Inc. will post -3.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BTIG Research reissued a "buy" rating and issued a $195.00 target price on shares of Guardant Health in a report on Wednesday, September 2nd. Morgan Stanley upped their price target on shares of Guardant Health from $185.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday. TD Cowen reiterated a "buy" rating on shares of Guardant Health in a report on Tuesday, August 25th. Canaccord Genuity Group increased their price target on shares of Guardant Health from $135.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Finally, Mizuho raised their price objective on shares of Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health has an average rating of "Moderate Buy" and an average target price of $190.00.

Insiders Place Their Bets

In other news, CTO Darya Chudova sold 7,738 shares of Guardant Health stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $178.00, for a total transaction of $1,377,364.00. Following the completion of the transaction, the chief technology officer owned 70,635 shares of the company's stock, valued at $12,573,030. The trade was a 9.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ian Clark sold 14,180 shares of Guardant Health 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 transaction, the director directly owned 2,975 shares of the company's stock, valued at $472,787. This trade represents a 82.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 178,824 shares of company stock valued at $30,051,669. Company insiders own 5.60% of the company's stock.

Guardant Health Profile

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood- and tissue-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients throughout the course of their disease. Its testing platforms analyze circulating tumor DNA and other genomic information to provide insights into a tumor's molecular characteristics.

The company's products include Guardant360 tests for comprehensive genomic profiling in advanced cancer, Guardant360 CDx, which is approved as a companion diagnostic for certain targeted therapies, and Guardant360 Response for assessing how a tumor may be responding to treatment.

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