Guardant Health (NASDAQ:GH) Price Target Raised to $70.00 at Stifel Nicolaus

Key Points

• Guardant Health has had its target price increased from $60.00 to $70.00 by Stifel Nicolaus, indicating a potential upside of 15.87% from its current stock price.
• Other analysts, including Mizuho and UBS Group, have also raised their price targets on Guardant Health, with UBS suggesting a target of $80.00.
• The company reported a revenue increase of 31.0% year-over-year, achieving $232.09 million in the last quarter, surpassing expectations.

Guardant Health (NASDAQ:GH - Get Free Report) had its target price lifted by investment analysts at Stifel Nicolaus from $60.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price would suggest a potential upside of 15.87% from the stock's current price.

GH has been the subject of a number of other reports. Mizuho boosted their price target on Guardant Health from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday. William Blair reissued an "outperform" rating on shares of Guardant Health in a report on Thursday. UBS Group boosted their price target on Guardant Health from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday. Wells Fargo & Company started coverage on Guardant Health in a report on Monday. They issued an "overweight" rating and a $72.00 price target for the company. Finally, Scotiabank boosted their price target on Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $64.37.

Guardant Health Stock Performance

NASDAQ GH traded up $2.74 during trading hours on Thursday, reaching $60.41. The stock had a trading volume of 2,576,560 shares, compared to its average volume of 2,399,178. The stock has a fifty day moving average of $55.08 and a 200 day moving average of $48.55. The stock has a market cap of $7.53 billion, a P/E ratio of -18.03 and a beta of 1.46. Guardant Health has a 52-week low of $20.14 and a 52-week high of $68.00.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $211.19 million. During the same quarter in the prior year, the company earned ($0.84) EPS. Guardant Health's quarterly revenue was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Guardant Health will post -2.9 EPS for the current year.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Medina Manuel Hidalgo sold 2,165 shares of Guardant Health stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $54.16, for a total transaction of $117,256.40. Following the transaction, the director owned 851 shares of the company's stock, valued at $46,090.16. The trade was a 71.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Helmy Eltoukhy sold 300,000 shares of Guardant Health stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total value of $17,835,000.00. Following the transaction, the chief executive officer directly owned 2,123,499 shares in the company, valued at approximately $126,242,015.55. This trade represents a 12.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 402,691 shares of company stock valued at $23,069,965. Corporate insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. 111 Capital purchased a new position in shares of Guardant Health in the 4th quarter valued at approximately $254,000. GAMMA Investing LLC grew its stake in shares of Guardant Health by 11,765.1% in the 1st quarter. GAMMA Investing LLC now owns 17,679 shares of the company's stock valued at $7,530,000 after purchasing an additional 17,530 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Guardant Health by 4.9% in the 1st quarter. Rhumbline Advisers now owns 175,432 shares of the company's stock valued at $7,473,000 after purchasing an additional 8,202 shares during the last quarter. MRA Advisory Group purchased a new stake in shares of Guardant Health in the first quarter valued at approximately $651,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Guardant Health by 13.1% in the first quarter. Handelsbanken Fonder AB now owns 32,741 shares of the company's stock valued at $1,395,000 after buying an additional 3,800 shares in 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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