Guardant Health, Inc. (NASDAQ:GH) Given Average Rating of "Buy" by Brokerages

Shares of Guardant Health, Inc. (NASDAQ:GH - Get Free Report) have been given a consensus rating of "Buy" by the twenty-one research firms that are currently covering the firm, MarketBeat.com reports. Twenty-one research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $53.76.

Several research analysts have weighed in on the company. TD Securities upped their price target on Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Barclays upped their target price on shares of Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Canaccord Genuity Group raised their target price on shares of Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Stephens reiterated an "overweight" rating and issued a $55.00 price target on shares of Guardant Health in a research note on Wednesday, March 26th. Finally, Scotiabank reissued an "outperform" rating on shares of Guardant Health in a report on Monday, May 5th.

Guardant Health Stock Up 0.1%

NASDAQ:GH traded up $0.07 during trading hours on Friday, hitting $50.25. 956,932 shares of the stock traded hands, compared to its average volume of 2,158,915. The company has a market cap of $6.23 billion, a price-to-earnings ratio of -14.82 and a beta of 1.44. Guardant Health has a 1 year low of $20.14 and a 1 year high of $53.42. The stock has a 50 day moving average price of $45.41 and a 200 day moving average price of $42.93.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.08. The firm had revenue of $203.47 million for the quarter, compared to the consensus estimate of $189.91 million. The firm's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.46) earnings per share. Equities analysts forecast that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Activity

In other Guardant Health news, CEO Amirali Talasaz sold 106,784 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $49.01, for a total value of $5,233,483.84. Following the sale, the chief executive officer owned 2,202,672 shares of the company's stock, valued at $107,952,954.72. This trade represents a 4.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myrtle S. Potter sold 2,626 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.70, for a total value of $130,512.20. Following the transaction, the director directly owned 18,180 shares of the company's stock, valued at approximately $903,546. This represents a 12.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 342,274 shares of company stock worth $17,080,589 over the last three months. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Guardant Health

Several large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Guardant Health during the 4th quarter worth approximately $43,000. SVB Wealth LLC purchased a new position in shares of Guardant Health during the first quarter worth about $54,000. Kimelman & Baird LLC acquired a new stake in shares of Guardant Health during the fourth quarter worth about $58,000. NewEdge Advisors LLC increased its position in shares of Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after purchasing an additional 230 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health in the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 92.60% 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.