Guardant Health, Inc. (NASDAQ:GH) Receives $53.76 Average PT from Analysts

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) has been given a consensus rating of "Buy" by the twenty-one ratings firms that are currently covering the company, Marketbeat.com reports. Twenty-one analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $53.76.

A number of analysts have commented on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $60.00 target price (up previously from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. UBS Group lifted their target price on shares of Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Mizuho lifted their target price on shares of Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Canaccord Genuity Group lifted their target price on shares of Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus lifted their target price on shares of Guardant Health from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 1st.

Guardant Health Stock Down 1.9%

GH traded down $0.96 during midday trading on Friday, reaching $49.54. 2,411,996 shares of the company's stock were exchanged, compared to its average volume of 2,166,746. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of -14.61 and a beta of 1.44. Guardant Health has a one year low of $20.14 and a one year high of $53.42. The business has a 50-day simple moving average of $45.48 and a two-hundred day simple moving average of $43.32.

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

Insider Activity

In related news, Director Musa Tariq sold 3,213 shares of Guardant Health stock in a transaction 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 completion of the transaction, the director owned 7,190 shares of the company's stock, valued at $355,689.30. This trade represents a 30.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meghan V. Joyce sold 3,337 shares of Guardant Health stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.22, for a total transaction of $157,573.14. Following the transaction, the director directly owned 11,150 shares of the company's stock, valued at $526,503. This represents a 23.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 342,274 shares of company stock valued at $17,080,589. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its holdings in Guardant Health by 43.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company's stock worth $82,000 after purchasing an additional 817 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Guardant Health in the fourth quarter worth about $43,000. Charles Schwab Investment Management Inc. raised its position in Guardant Health by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,016,533 shares of the company's stock worth $31,055,000 after acquiring an additional 13,395 shares during the period. Aigen Investment Management LP raised its position in Guardant Health by 35.9% in the fourth quarter. Aigen Investment Management LP now owns 25,957 shares of the company's stock worth $793,000 after acquiring an additional 6,854 shares during the period. Finally, Arizona State Retirement System raised its position in Guardant Health by 1.1% in the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company's stock worth $1,089,000 after acquiring an additional 403 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.