Voloridge Investment Management LLC Lowers Stake in Guardant Health, Inc. (NASDAQ:GH)

Voloridge Investment Management LLC lowered its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 596,682 shares of the company's stock after selling 65,585 shares during the period. Voloridge Investment Management LLC owned about 0.48% of Guardant Health worth $18,229,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GH. Guyasuta Investment Advisors Inc. purchased a new position in shares of Guardant Health during the 4th quarter worth approximately $206,000. Entropy Technologies LP purchased a new stake in shares of Guardant Health in the 4th quarter worth $377,000. Stifel Financial Corp increased its stake in shares of Guardant Health by 25.1% in the 4th quarter. Stifel Financial Corp now owns 49,927 shares of the company's stock worth $1,525,000 after purchasing an additional 10,006 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Guardant Health in the 4th quarter worth $2,211,000. Finally, Swiss National Bank increased its stake in Guardant Health by 1.0% in the 4th quarter. Swiss National Bank now owns 241,900 shares of the company's stock worth $7,390,000 after buying an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company's stock.

Guardant Health Stock Down 3.1%

Guardant Health stock traded down $1.20 during mid-day trading on Wednesday, reaching $37.97. 472,830 shares of the company's stock were exchanged, compared to its average volume of 2,137,316. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $52.92. The company has a fifty day moving average of $43.11 and a 200-day moving average of $40.30. The company has a market cap of $4.70 billion, a P/E ratio of -10.70 and a beta of 1.49.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($0.57) by $0.08. The business had revenue of $203.47 million for the quarter, compared to analyst estimates of $189.91 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The company's revenue was up 20.8% on a year-over-year basis. During the same period last year, the business earned ($0.46) EPS. Equities research analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Amirali Talasaz sold 106,784 shares of Guardant Health stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $49.01, for a total value of $5,233,483.84. Following the sale, the chief executive officer now owns 2,202,672 shares of the company's stock, valued at $107,952,954.72. The trade was a 4.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 107,132 shares of company stock valued at $5,248,393. Insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

GH has been the subject of a number of analyst reports. Scotiabank reiterated an "outperform" rating on shares of Guardant Health in a research note on Monday, May 5th. Canaccord Genuity Group increased their price target on Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Barclays increased their price target on Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. UBS Group increased their price objective on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, TD Securities raised 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. Twenty-one analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $52.32.

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.