Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Key Points

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Guardant Health (NASDAQ:GH - Free Report) had its price objective increased by Raymond James Financial from $59.00 to $61.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on GH. Barclays increased their target price on shares of Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Evercore ISI raised Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. Mizuho lifted their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Canaccord Genuity Group upped their price target on Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, UBS Group boosted their price objective on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $54.95.

Guardant Health Price Performance

GH stock traded up $2.77 during midday trading on Thursday, reaching $44.19. 2,888,034 shares of the stock were exchanged, compared to its average volume of 2,394,706. The stock has a market capitalization of $5.51 billion, a PE ratio of -13.19 and a beta of 1.43. Guardant Health has a 52 week low of $20.14 and a 52 week high of $53.42. The company has a fifty day moving average price of $47.33 and a 200 day moving average price of $45.05.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.08. The business had revenue of $232.09 million for the quarter, compared to analyst estimates of $211.19 million. During the same quarter in the prior year, the business earned ($0.84) earnings per share. The firm's quarterly revenue was up 31.0% on a year-over-year basis. As a group, analysts anticipate that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Myrtle S. Potter sold 2,626 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.70, for a total value of $130,512.20. Following the completion of the transaction, the director owned 18,180 shares in the company, valued at $903,546. This trade represents a 12.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amirali Talasaz sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the completion of the sale, the chief executive officer owned 1,971,830 shares in the company, valued at $100,326,710.40. This represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,516 shares of company stock valued at $11,848,754. Insiders own 6.10% of the company's stock.

Institutional Investors Weigh In On Guardant Health

Several institutional investors and hedge funds have recently modified their holdings of GH. IFP Advisors Inc boosted its holdings in Guardant Health by 120.1% in the second quarter. IFP Advisors Inc now owns 612 shares of the company's stock worth $33,000 after acquiring an additional 334 shares in the last quarter. Signaturefd LLC lifted its position in Guardant Health by 50.5% during the second quarter. Signaturefd LLC now owns 635 shares of the company's stock valued at $33,000 after purchasing an additional 213 shares during the period. FNY Investment Advisers LLC purchased a new stake in Guardant Health in the second quarter worth approximately $62,000. SVB Wealth LLC bought a new stake in Guardant Health in the 1st quarter worth approximately $54,000. Finally, NewEdge Advisors LLC raised its stake in Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after buying an additional 230 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.