Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho analysts have increased the price target for Guardant Health from $65.00 to $70.00, indicating a potential upside of 14.02% based on the company's previous close.
• Multiple analysts, including Stifel Nicolaus and JPMorgan Chase, have issued optimistic price objectives for Guardant Health, with UBS Group lifting theirs from $70.00 to $80.00.
• Despite a reported loss, Guardant Health's revenue rose 31.0% year-over-year to $232.09 million, surpassing analysts' expectations.

Guardant Health (NASDAQ:GH - Get Free Report) had its price target boosted by analysts at Mizuho from $65.00 to $70.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's price objective suggests a potential upside of 14.02% from the company's previous close.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus set a $73.00 price objective on shares of Guardant Health in a research note on Thursday. Guggenheim increased their price objective on shares of Guardant Health from $56.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday. Cowen restated a "buy" rating on shares of Guardant Health in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Guardant Health from $60.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, 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. One analyst has rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $64.53.

Guardant Health Stock Performance

NASDAQ GH traded up $3.73 on Thursday, hitting $61.40. The stock had a trading volume of 2,223,190 shares, compared to its average volume of 2,397,694. The firm has a 50-day moving average of $55.08 and a 200-day moving average of $48.55. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of -18.30 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 posted 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 company had revenue of $232.09 million for the quarter, compared to analysts' expectations of $211.19 million. The business's quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Activity at Guardant Health

In related news, CEO Helmy Eltoukhy sold 300,000 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,123,499 shares of the company's stock, valued at approximately $126,242,015.55. This trade represents a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Medina Manuel Hidalgo sold 2,165 shares of Guardant Health stock in a transaction 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 completion of the transaction, the director directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 402,691 shares of company stock valued at $23,069,965. Corporate insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Guardant Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC purchased a new position in shares of Guardant Health in the 1st quarter worth $232,000. Intech Investment Management LLC grew its stake in shares of Guardant Health by 37.3% in the 1st quarter. Intech Investment Management LLC now owns 60,187 shares of the company's stock worth $2,564,000 after buying an additional 16,363 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Guardant Health in the 1st quarter worth $866,000. Fifth Third Bancorp purchased a new position in shares of Guardant Health in the 1st quarter worth $279,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Guardant Health in the 1st quarter worth $442,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

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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