UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $118.30 Million Stock Position in Guardant Health, Inc. $GH

Key Points

• UBS AM increased its stake in Guardant Health by 6.3%, holding approximately $118.30 million in stock, which constitutes about 2.24% of the company.
• A variety of institutional investors have also recently altered their positions in Guardant Health, with notable acquisitions and increases in stakes reported during the first quarter.
• Analysts remain optimistic, assigning a generally favorable consensus rating of "Buy" and estimating an average price target of $58.24 for the stock.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,777,040 shares of the company's stock after acquiring an additional 164,263 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 2.24% of Guardant Health worth $118,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Empowered Funds LLC acquired a new position in Guardant Health in the first quarter valued at approximately $274,000. Fred Alger Management LLC lifted its stake in Guardant Health by 194.3% in the first quarter. Fred Alger Management LLC now owns 457,617 shares of the company's stock valued at $19,494,000 after buying an additional 302,145 shares during the period. Parkman Healthcare Partners LLC acquired a new position in Guardant Health in the first quarter valued at approximately $3,805,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Guardant Health by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,236 shares of the company's stock valued at $3,035,000 after buying an additional 4,056 shares during the period. Finally, Cinctive Capital Management LP acquired a new position in Guardant Health in the first quarter valued at approximately $3,991,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GH. BTIG Research boosted their price target on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Mizuho upped their target price on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Scotiabank upped their target price on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Evercore ISI raised Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Raymond James Financial upped their target price on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seventeen have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $58.24.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $54.90 on Friday. The company has a market capitalization of $6.85 billion, a PE ratio of -16.39 and a beta of 1.46. The business has a fifty day moving average price of $53.81 and a two-hundred day moving average price of $47.65. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $68.00.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.08. The firm had revenue of $232.09 million for the quarter, compared to analysts' expectations of $211.19 million. During the same period in the prior year, the company earned ($0.84) EPS. The firm's quarterly revenue was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Insider Activity

In related news, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.70, for a total transaction of $130,512.20. Following the sale, the director owned 18,180 shares of the company's stock, valued at approximately $903,546. This represents a 12.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Helmy Eltoukhy sold 300,000 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total value of $17,835,000.00. Following the sale, the chief executive officer directly owned 2,123,499 shares in the company, valued at $126,242,015.55. This trade represents a 12.38% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 412,921 shares of company stock worth $23,558,346. 6.10% of the stock is owned by company insiders.

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.

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