Guardant Health, Inc. (NASDAQ:GH - Get Free Report) shares dropped 6.7% on Friday . The company traded as low as $46.53 and last traded at $45.62. Approximately 1,134,707 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 2,169,092 shares. The stock had previously closed at $48.87.
Analyst Upgrades and Downgrades
GH has been the topic of several research reports. Barclays raised their price objective on Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. UBS Group boosted their target price on Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Canaccord Genuity Group boosted their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stephens reissued an "overweight" rating and issued a $55.00 price objective on shares of Guardant Health in a research note on Wednesday, March 26th. Finally, Scotiabank restated an "outperform" rating on shares of Guardant Health in a research report on Monday. Twenty-one analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Guardant Health currently has a consensus rating of "Buy" and an average price target of $52.32.
View Our Latest Report on Guardant Health
Guardant Health Stock Down 4.7 %
The firm's 50 day moving average is $43.76 and its two-hundred day moving average is $38.51. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of -11.79 and a beta of 1.49.
Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.08. The business had revenue of $203.47 million for the quarter, compared to the consensus estimate of $189.91 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business's revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.46) EPS. On average, analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.
Insider Transactions at Guardant Health
In other news, CEO Amirali Talasaz sold 106,784 shares of Guardant Health stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the sale, the chief executive officer now owns 2,202,672 shares of the company's stock, valued at approximately $107,952,954.72. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 107,132 shares of company stock worth $5,249,355. Insiders own 5.50% of the company's stock.
Institutional Trading of Guardant Health
Several hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Guardant Health during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Guardant Health in the 4th quarter worth approximately $43,000. Kimelman & Baird LLC acquired a new position in shares of Guardant Health in the 4th quarter worth approximately $58,000. NewEdge Advisors LLC raised its holdings in shares of Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after purchasing an additional 230 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Guardant Health during the fourth quarter valued at approximately $61,000. Institutional investors own 92.60% of the company's stock.
About Guardant Health
(
Get Free Report)
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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