Brokerages Set Guardant Health, Inc. (NASDAQ:GH) PT at $54.45

Key Points

• Guardant Health, Inc. has received a consensus recommendation of "Buy" from twenty-one analysts, with an average price target of $54.45.
• Recent price target increases from various firms include Stifel Nicolaus raising it to $60.00 and UBS Group increasing it to $70.00, both maintaining a "buy" rating.
• Insider sales have occurred, with Director Ian T. Clark selling 6,672 shares and Director Musa Tariq selling 3,213 shares in recent transactions, indicating a notable decrease in their shareholdings.

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) has been given an average recommendation of "Buy" by the twenty-one ratings firms that are presently covering the stock, MarketBeat Ratings reports. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $54.45.

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group raised their target price on Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. UBS Group increased their price target on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Mizuho lifted their price objective on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Piper Sandler reiterated an "overweight" rating and set a $60.00 price objective (up previously from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Finally, Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th.

Guardant Health Price Performance

NASDAQ GH traded down $0.95 during trading hours on Tuesday, reaching $43.32. The company's stock had a trading volume of 1,748,233 shares, compared to its average volume of 1,717,476. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of -12.78 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 company's 50-day moving average is $46.83 and its two-hundred day moving average is $44.86.

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

Insiders Place Their Bets

In other news, CEO Amirali Talasaz sold 100,000 shares of Guardant Health stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total value of $5,088,000.00. Following the completion of the sale, the chief executive officer directly owned 1,971,830 shares of the company's stock, valued at approximately $100,326,710.40. The trade was a 4.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $158,947.11. Following the completion of the sale, the director directly owned 7,190 shares of the company's stock, valued at $355,689.30. The trade was a 30.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 342,300 shares of company stock valued at $17,082,238. Insiders own 6.10% of the company's stock.

Institutional Investors Weigh In On Guardant Health

Institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its holdings in Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company's stock valued at $33,000 after purchasing an additional 213 shares during the period. NewEdge Advisors LLC boosted its holdings in Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after purchasing an additional 230 shares during the period. American Century Companies Inc. boosted its holdings in Guardant Health by 0.3% in the first 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 period. IFP Advisors Inc boosted its holdings in Guardant Health by 120.1% in the second 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 period. Finally, Summit Investment Advisors Inc. boosted its holdings in Guardant Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company's stock valued at $377,000 after purchasing an additional 391 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

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.