Guardant Health (NASDAQ:GH) CEO Helmy Eltoukhy Sells 300,000 Shares

Key Points

• Helmy Eltoukhy, CEO of Guardant Health, sold 300,000 shares at an average price of $59.45, totaling approximately $17.8 million, reducing his ownership in the company by 12.38%.
• Guardant Health reported earnings of ($0.44) EPS for the last quarter, beating expectations and showing a 31% year-over-year revenue growth.
• Analysts have revised price targets for Guardant Health, with Mizuho increasing its target from $60 to $65, and BTIG Research raising it to $70, indicating positive outlooks for the stock.

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) CEO Helmy Eltoukhy sold 300,000 shares of Guardant Health stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the completion of the sale, the chief executive officer directly 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Guardant Health Price Performance

NASDAQ GH traded up $0.22 on Thursday, hitting $56.79. 1,611,661 shares of the stock traded hands, compared to its average volume of 2,333,509. Guardant Health, Inc. has a 12 month low of $20.14 and a 12 month high of $68.00. The business's fifty day moving average is $53.71 and its two-hundred day moving average is $47.55.

Guardant Health (NASDAQ:GH - Get Free Report) last released 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. During the same quarter last year, the firm earned ($0.84) earnings per share. The firm's revenue for the quarter was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. Analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Hedge Funds Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its holdings in Guardant Health by 50.5% during the second quarter. Signaturefd LLC now owns 635 shares of the company's stock worth $33,000 after purchasing an additional 213 shares during the last quarter. American Century Companies Inc. raised its position in Guardant Health by 0.3% during 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 in the last quarter. IFP Advisors Inc boosted its position in Guardant Health by 120.1% during the second quarter. IFP Advisors Inc now owns 612 shares of the company's stock valued at $33,000 after buying an additional 334 shares during the period. Main Management ETF Advisors LLC raised its stake in shares of Guardant Health by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 21,257 shares of the company's stock valued at $1,106,000 after acquiring an additional 348 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in Guardant Health by 0.9% in the first quarter. HighTower Advisors LLC now owns 51,107 shares of the company's stock worth $2,177,000 after acquiring an additional 469 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GH has been the subject of a number of analyst reports. Mizuho upped their price objective on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Evercore ISI raised shares of Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. Scotiabank boosted their target price on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. BTIG Research lifted their target price on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Finally, Raymond James Financial increased their price target on shares of Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seventeen have assigned a Buy rating to the stock. According to data from MarketBeat.com, Guardant Health has an average rating of "Buy" and a consensus price target of $58.24.

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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