Guardant Health (NASDAQ:GH) Rating Increased to Outperform at Wolfe Research

Key Points

• Guardant Health received an upgrade from Wolfe Research, moving from a "peer perform" to an "outperform" rating with a target price of $75, suggesting a potential upside of 30.05% from its previous close.
• In its latest earnings report, Guardant Health surpassed analysts' expectations with revenue of $232.09 million, reflecting a 31% increase year-over-year.
• Insider trading activity included the sale of over 100,000 shares by CEO Amirali Talasaz, indicating a decrease in their position but maintaining significant stock ownership valued at over $100 million.

Guardant Health (NASDAQ:GH - Get Free Report) was upgraded by Wolfe Research from a "peer perform" rating to an "outperform" rating in a note issued to investors on Thursday,Finviz reports. The firm currently has a $75.00 price target on the stock. Wolfe Research's target price indicates a potential upside of 30.05% from the stock's previous close.

A number of other research firms have also weighed in on GH. Wells Fargo & Company initiated coverage on Guardant Health in a report on Monday. They set an "overweight" rating and a $72.00 target price for the company. Mizuho lifted their price target on Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Raymond James Financial lifted their price target on Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Scotiabank lifted their price target on Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Finally, Evercore ISI upgraded Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating and nineteen have assigned a Buy rating to the company's stock. According to MarketBeat, Guardant Health presently has an average rating of "Buy" and a consensus target price of $59.84.

Guardant Health Stock Down 3.4%

GH stock opened at $57.67 on Thursday. The firm has a market capitalization of $7.19 billion, a PE ratio of -17.21 and a beta of 1.46. Guardant Health has a twelve month low of $20.14 and a twelve month high of $68.00. The stock has a 50-day simple moving average of $55.08 and a two-hundred day simple moving average of $48.55.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results 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 company had revenue of $232.09 million for the quarter, compared to analysts' expectations of $211.19 million. The firm's quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Guardant Health will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Medina Manuel Hidalgo sold 2,165 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $54.16, for a total value of $117,256.40. Following the completion of the sale, the director owned 851 shares in the company, valued at $46,090.16. The trade was a 71.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amirali Talasaz sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total value of $5,088,000.00. Following the completion of the sale, the chief executive officer owned 1,971,830 shares of the company's stock, valued at $100,326,710.40. The trade was a 4.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 402,691 shares of company stock worth $23,069,965 in the last quarter. 6.10% of the stock is owned by insiders.

Institutional Trading of Guardant Health

A number of hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC bought a new stake in Guardant Health in the first quarter valued at approximately $82,349,000. ARK Investment Management LLC lifted its position in Guardant Health by 100.4% in the second quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company's stock valued at $146,935,000 after purchasing an additional 1,414,381 shares during the last quarter. Invesco Ltd. lifted its position in Guardant Health by 100.9% in the first quarter. Invesco Ltd. now owns 2,794,667 shares of the company's stock valued at $119,053,000 after purchasing an additional 1,403,670 shares during the last quarter. Norges Bank bought a new stake in Guardant Health in the second quarter valued at approximately $64,136,000. Finally, Franklin Resources Inc. lifted its position in Guardant Health by 78.2% in the second quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company's stock valued at $120,730,000 after purchasing an additional 1,018,144 shares during the last quarter. Institutional investors own 92.60% of the company's stock.

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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