Guardant Health (NASDAQ:GH) Stock Price Down 3.4% - Here's What Happened

Key Points

• Guardant Health's stock price fell by 3.4% during mid-day trading, reaching a low of $61.66, with a significant decline in trading volume of 72% compared to its average.
• A number of research firms have recently upgraded Guardant Health's stock, with Mizuho and UBS Group raising price targets to $70.00 and $80.00, respectively, while maintaining a "buy" or "outperform" rating.
• Guardant Health reported a quarterly revenue increase of 31.0% year-over-year, reaching $232.09 million, and exceeded earnings estimates by reporting a loss of ($0.44) per share instead of the expected ($0.52).

Guardant Health, Inc. (NASDAQ:GH - Get Free Report)'s stock price was down 3.4% during mid-day trading on Monday . The stock traded as low as $61.66 and last traded at $62.02. Approximately 675,821 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 2,374,697 shares. The stock had previously closed at $64.22.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GH shares. Mizuho boosted their target price on Guardant Health from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, September 25th. UBS Group increased their price objective on shares of Guardant Health from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. Cowen reaffirmed a "buy" rating on shares of Guardant Health in a report on Thursday, September 25th. Guggenheim increased their price target on shares of Guardant Health from $56.00 to $67.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Finally, BTIG Research set a $80.00 price objective on Guardant Health in a report on Thursday, September 25th. Twenty-three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $65.86.

Guardant Health Stock Down 3.4%

The firm has a market capitalization of $7.74 billion, a P/E ratio of -18.54 and a beta of 1.53. The business's 50 day moving average is $59.43 and its 200-day moving average is $50.21.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate 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 business's quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the business earned ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. Research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Activity at Guardant Health

In other news, Director Medina Manuel Hidalgo sold 2,165 shares of the firm'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. This trade represents a 71.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Helmy Eltoukhy sold 300,000 shares of the 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 sale, the chief executive officer owned 2,123,499 shares of the company's stock, valued at $126,242,015.55. The trade was a 12.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 302,691 shares of company stock valued at $17,981,965. Corporate insiders own 6.10% of the company's stock.

Institutional Trading of Guardant Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GH. Sound Income Strategies LLC acquired a new position in shares of Guardant Health in the 3rd quarter worth approximately $38,000. ST Germain D J Co. Inc. bought a new position in Guardant Health during the third quarter worth $155,000. Sicart Associates LLC lifted its holdings in Guardant Health by 39.1% in the third quarter. Sicart Associates LLC now owns 230,083 shares of the company's stock valued at $14,376,000 after buying an additional 64,628 shares during the period. Osaic Holdings Inc. boosted its position in Guardant Health by 118.6% during the second quarter. Osaic Holdings Inc. now owns 29,561 shares of the company's stock valued at $1,538,000 after acquiring an additional 16,039 shares during the last quarter. Finally, State of Wyoming bought a new stake in Guardant Health during the second quarter valued at $567,000. Institutional investors and hedge funds 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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