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

Key Points

• Guardant Health, Inc. has received a consensus recommendation of "Buy" from 18 brokerages, with an average target price of $58.24.
• Institutional investors hold approximately 92.60% of Guardant Health's stock, indicating strong institutional support.
• In its latest quarterly report, the company beat earnings expectations by posting an EPS of ($0.44) and saw a 31% year-over-year increase in revenue.

Shares of Guardant Health, Inc. (NASDAQ:GH - Get Free Report) have earned an average recommendation of "Buy" from the eighteen brokerages that are currently covering the stock, MarketBeat reports. Seventeen research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $58.2353.

A number of research analysts recently weighed in on GH shares. Raymond James Financial increased their price objective 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. Mizuho upped their target price on shares of Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Evercore ISI raised shares of Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. Scotiabank upped their target price on shares of Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Finally, BTIG Research upped their target price on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, September 4th.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Medina Manuel Hidalgo sold 2,165 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $54.16, for a total transaction of $117,256.40. Following the completion of the sale, the director directly owned 851 shares of the company's stock, valued at approximately $46,090.16. This represents a 71.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Helmy Eltoukhy sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the completion of the transaction, the chief executive officer owned 2,123,499 shares of the company's stock, valued at approximately $126,242,015.55. The trade was a 12.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 402,549 shares of company stock valued at $23,062,066. Insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in Guardant Health by 50.5% during the second quarter. Signaturefd LLC now owns 635 shares of the company's stock valued at $33,000 after purchasing an additional 213 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Guardant Health by 0.3% in the 1st quarter. American Century Companies Inc. now owns 104,206 shares of the company's stock valued at $4,439,000 after purchasing an additional 282 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Guardant Health by 120.1% in the 2nd quarter. IFP Advisors Inc now owns 612 shares of the company's stock valued at $33,000 after purchasing an additional 334 shares during the last quarter. Main Management ETF Advisors LLC grew its stake in Guardant Health by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 21,257 shares of the company's stock worth $1,106,000 after purchasing an additional 348 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Guardant Health by 0.9% during the 1st quarter. HighTower Advisors LLC now owns 51,107 shares of the company's stock valued at $2,177,000 after purchasing an additional 469 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Stock Up 1.1%

NASDAQ:GH opened at $55.40 on Wednesday. The company's 50 day moving average price is $54.00 and its 200-day moving average price is $47.86. Guardant Health has a 52 week low of $20.14 and a 52 week high of $68.00. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of -16.54 and a beta of 1.46.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.08. The firm had revenue of $232.09 million for the quarter, compared to analysts' expectations of $211.19 million. The company's quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Guardant Health will post -2.9 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.