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

Key Points

• Analysts remain broadly bullish on Guardant Health, with 23 buy ratings, one strong-buy rating and one sell rating among 25 analysts, resulting in a “Moderate Buy” consensus. The average 12-month price target is $183.78, with several firms recently raising targets to between $180 and $205.
• Guardant Health shares opened at $168.48, near their 52-week high of $176.58, with a $22.61 billion market capitalization. The stock’s 50-day and 200-day moving averages are $147.02 and $115.20, respectively.
• Insiders sold 724,445 shares worth approximately $93.1 million over the past three months, while insiders own 5.6% of the company. Institutional investors and hedge funds hold a much larger 92.6% stake.

Shares of Guardant Health, Inc. (NASDAQ:GH - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-five analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $183.7826.

GH has been the topic of a number of recent research reports. Piper Sandler upped their price target on shares of Guardant Health from $135.00 to $193.00 and gave the company an "overweight" rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of Guardant Health from $130.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Morgan Stanley boosted their target price on shares of Guardant Health from $175.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday. Barclays upped their target price on shares of Guardant Health from $150.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Canaccord Genuity Group lifted their price target on Guardant Health from $135.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th.

Insiders Place Their Bets

In other news, Director Musa Tariq sold 1,951 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $255,893.16. Following the completion of the sale, the director directly owned 11,048 shares of the company's stock, valued at $1,449,055.68. This trade represents a 15.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Medina Manuel Hidalgo sold 1,700 shares of Guardant Health stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $164.24, for a total value of $279,208.00. Following the completion of the transaction, the director owned 4,556 shares of the company's stock, valued at approximately $748,277.44. This trade represents a 27.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 724,445 shares of company stock worth $93,089,291. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GH. V Square Quantitative Management LLC bought a new stake in shares of Guardant Health in the 4th quarter worth about $27,000. Elyxium Wealth LLC purchased a new position in shares of Guardant Health during the 4th quarter worth about $35,000. Parallel Advisors LLC boosted its stake in shares of Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company's stock worth $36,000 after purchasing an additional 219 shares during the period. Global Retirement Partners LLC bought a new position in Guardant Health during the 2nd quarter valued at about $59,000. Finally, EFG International AG bought a new position in Guardant Health during the 4th quarter valued at about $41,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Price Performance

Shares of GH opened at $168.48 on Friday. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of -48.27 and a beta of 1.60. Guardant Health has a 1 year low of $51.44 and a 1 year high of $176.58. The business's 50 day simple moving average is $147.02 and its 200-day simple moving average is $115.20.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health's mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company's flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

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