Guardant Health (NASDAQ:GH) Hits New 52-Week High - What's Next?

Key Points

• Guardant Health's shares hit a new 52-week high of $70.33 during trading, indicating strong investor interest with a substantial trading volume of nearly 2.55 million shares.
• Several analysts have notably upgraded their target prices for Guardant Health, with BTIG Research setting a price target of $80.00, while Mizuho increased theirs to $70.00, reflecting a consensus rating of "Moderate Buy."
• Insider trading activity revealed CEO Helmy Eltoukhy sold 300,000 shares, resulting in a 12.38% decrease in his position, signaling potential shifts in management confidence.

Shares of Guardant Health, Inc. (NASDAQ:GH - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $70.33 and last traded at $67.51, with a volume of 2548448 shares traded. The stock had previously closed at $70.20.

Analyst Upgrades and Downgrades

GH has been the topic of a number of research analyst reports. BTIG Research set a $80.00 target price on shares of Guardant Health in a research note on Thursday, September 25th. Mizuho upped their target price on shares of Guardant Health from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, September 25th. Cowen restated a "buy" rating on shares of Guardant Health in a research note on Thursday, September 25th. Wells Fargo & Company initiated coverage on shares of Guardant Health in a research note on Monday, September 22nd. They issued an "overweight" rating and a $72.00 target price on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Guardant Health in a research note on Wednesday, October 8th. Twenty-three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Guardant Health has an average rating of "Moderate Buy" and a consensus target price of $65.86.

Guardant Health Stock Performance

The business's 50 day moving average price is $61.62 and its 200-day moving average price is $51.28. The firm has a market capitalization of $8.42 billion, a PE ratio of -20.15 and a beta of 1.53.

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

Insider Activity at Guardant Health

In other news, CEO Helmy Eltoukhy sold 300,000 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the completion of the transaction, the chief executive officer owned 2,123,499 shares in the company, valued at approximately $126,242,015.55. This represents a 12.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the company's stock in a transaction 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 transaction, the director owned 851 shares of the company's stock, valued at approximately $46,090.16. The trade was a 71.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 302,691 shares of company stock valued at $17,984,628 in the last quarter. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GH. Driehaus Capital Management LLC purchased a new stake in Guardant Health in the 1st quarter valued at $82,349,000. ARK Investment Management LLC raised its position in Guardant Health by 100.4% during the 2nd quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company's stock worth $146,935,000 after buying an additional 1,414,381 shares during the last quarter. Invesco Ltd. raised its position in Guardant Health by 100.9% during the 1st quarter. Invesco Ltd. now owns 2,794,667 shares of the company's stock worth $119,053,000 after buying an additional 1,403,670 shares during the last quarter. Norges Bank purchased a new position in Guardant Health during the 2nd quarter worth $64,136,000. Finally, Franklin Resources Inc. raised its position in Guardant Health by 78.2% during the 2nd quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company's stock worth $120,730,000 after buying an additional 1,018,144 shares during the last quarter. 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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