Guardant Health, Inc. (NASDAQ:GH) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• The consensus recommendation for Guardant Health, Inc. (NASDAQ:GH) is currently a "Buy" from 17 research firms, with an average target price of $57.50.
• Guardant Health's recent quarterly earnings exceeded expectations, reporting a revenue increase of 31% year-over-year, totaling $232.09 million.
• Insider selling activity has been noted, with directors Musa Tariq and Meghan V. Joyce decreasing their holdings significantly, highlighting potential concerns over insider confidence.

Shares of Guardant Health, Inc. (NASDAQ:GH - Get Free Report) have received a consensus recommendation of "Buy" from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $57.50.

Several equities research analysts have weighed in on GH shares. Canaccord Genuity Group upped their target price on Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus upped their target price on Guardant Health from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Barclays boosted their price target on Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. TD Securities boosted their price target on Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Scotiabank upped their target price on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st.

Guardant Health Stock Performance

Shares of Guardant Health stock opened at $61.40 on Friday. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of -18.33 and a beta of 1.43. The stock has a 50 day moving average price of $50.26 and a 200-day moving average price of $45.97. Guardant Health has a one year low of $20.14 and a one year high of $62.81.

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

Insider Activity at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 3,213 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $49.47, for a total transaction of $158,947.11. Following the transaction, the director owned 7,190 shares in the company, valued at approximately $355,689.30. This represents a 30.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Meghan V. Joyce sold 3,337 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $47.22, for a total value of $157,573.14. Following the transaction, the director owned 11,150 shares in the company, valued at $526,503. This represents a 23.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,542 shares of company stock valued at $11,852,491 in the last ninety days. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds have recently made changes to their positions in GH. Signaturefd LLC increased its holdings in shares of 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 last quarter. IFP Advisors Inc increased its stake in Guardant Health by 120.1% during the second quarter. IFP Advisors Inc now owns 612 shares of the company's stock worth $33,000 after acquiring an additional 334 shares during the last quarter. Allworth Financial LP boosted its position in shares of Guardant Health by 358.4% during the second quarter. Allworth Financial LP now owns 706 shares of the company's stock worth $37,000 after buying an additional 552 shares during the period. SVB Wealth LLC purchased a new position in shares of Guardant Health during the first quarter worth $54,000. Finally, NewEdge Advisors LLC boosted 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 buying an additional 230 shares during the period. Institutional investors and hedge funds 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.

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