Vanguard Group Inc. Has $514.67 Million Stake in Guardant Health, Inc. $GH

Key Points

• Vanguard Group Inc. increased its ownership in Guardant Health by 0.2%, bringing its total stake to 12,081,377 shares valued at approximately $514.67 million.
• Multiple hedge funds have acquired positions in Guardant Health, with institutional investors now owning 92.60% of the company’s stock.
• Guardant Health recently reported earnings that beat analysts' expectations, with a revenue increase of 31.0% year-over-year, reaching $232.09 million.

Vanguard Group Inc. raised its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,081,377 shares of the company's stock after acquiring an additional 28,826 shares during the quarter. Vanguard Group Inc. owned approximately 9.75% of Guardant Health worth $514,667,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Bank of Montreal Can purchased a new stake in shares of Guardant Health in the fourth quarter valued at approximately $248,000. Raymond James Financial Inc. purchased a new stake in shares of Guardant Health during the 4th quarter worth $2,211,000. Rockefeller Capital Management L.P. raised its holdings in Guardant Health by 20.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 16,357 shares of the company's stock worth $500,000 after purchasing an additional 2,757 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Guardant Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company's stock valued at $377,000 after purchasing an additional 391 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Guardant Health by 76.4% during the 4th quarter. XTX Topco Ltd now owns 31,457 shares of the company's stock worth $961,000 after buying an additional 13,624 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on GH. Raymond James Financial increased their price target on shares of Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. 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. Scotiabank lifted their price objective 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. Piper Sandler restated an "overweight" rating and issued a $60.00 target price (up from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Finally, Stifel Nicolaus upped their price objective on shares of Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Sixteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $57.50.

Guardant Health Stock Down 1.1%

Shares of GH traded down $0.66 during midday trading on Tuesday, hitting $58.81. The company had a trading volume of 461,237 shares, compared to its average volume of 2,384,785. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of -17.56 and a beta of 1.43. The company's 50 day moving average price is $49.42 and its 200 day moving average price is $45.60. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $60.68.

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

Insider Activity at Guardant Health

In other news, Director Musa Tariq sold 3,213 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total transaction of $158,947.11. Following the sale, the director owned 7,190 shares in the company, valued at $355,689.30. The trade was a 30.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amirali Talasaz sold 100,000 shares of the 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 sale, the chief executive officer owned 1,971,830 shares of the company's stock, valued at approximately $100,326,710.40. This represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,400 shares of company stock worth $11,844,110. Company insiders own 6.10% of the company's stock.

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.