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

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) has earned an average rating of "Buy" from the twenty-two ratings firms that are currently covering the stock, Marketbeat.com reports. Twenty-one analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $52.32.

A number of equities research analysts have weighed in on GH shares. Piper Sandler reissued an "overweight" rating and set a $60.00 target price (up from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Mizuho assumed coverage on shares of Guardant Health in a research note on Thursday, April 10th. They issued an "outperform" rating and a $55.00 price objective on the stock. Barclays upped their price objective on shares of 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 upped their price objective on shares of Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Stephens reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of Guardant Health in a research note on Wednesday, March 26th.

Insiders Place Their Bets

In other news, CEO Amirali Talasaz sold 106,784 shares of Guardant Health stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $49.01, for a total value of $5,233,483.84. Following the completion of the transaction, the chief executive officer now owns 2,202,672 shares in the company, valued at $107,952,954.72. This trade represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 107,132 shares of company stock valued at $5,249,355. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Guardant Health

Several hedge funds have recently bought and sold shares of the company. Ieq Capital LLC purchased a new position in Guardant Health during the first quarter valued at approximately $660,000. FORA Capital LLC purchased a new position in Guardant Health in the 1st quarter worth approximately $472,000. SVB Wealth LLC purchased a new position in Guardant Health in the 1st quarter worth approximately $54,000. Atika Capital Management LLC purchased a new position in Guardant Health in the 1st quarter worth approximately $3,642,000. Finally, Osterweis Capital Management Inc. purchased a new position in Guardant Health in the 1st quarter worth approximately $12,634,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Guardant Health Stock Down 1.5%

NASDAQ GH opened at $40.72 on Thursday. The company has a market capitalization of $5.04 billion, a P/E ratio of -11.44 and a beta of 1.49. Guardant Health has a 12-month low of $20.14 and a 12-month high of $52.92. The firm has a 50-day moving average price of $43.76 and a two-hundred day moving average price of $39.27.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.08. The company had revenue of $203.47 million during the quarter, compared to analysts' expectations of $189.91 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.46) EPS. Equities analysts expect that Guardant Health will post -2.9 EPS 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.

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