Guardant Health (NASDAQ:GH) Price Target Raised to $61.00 at Raymond James Financial

Key Points

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

Several other analysts also recently weighed in on GH. Scotiabank reaffirmed an "outperform" rating on shares of Guardant Health in a report on Monday, May 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $60.00 target price (up previously from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. TD Securities lifted their target price on shares of Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Barclays boosted their price objective on shares of Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Guardant Health from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Nineteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $54.95.

Guardant Health Trading Up 1.1%

NASDAQ:GH traded up $0.44 during midday trading on Thursday, hitting $41.42. 3,158,545 shares of the company were exchanged, compared to its average volume of 2,236,774. The company has a fifty day simple moving average of $47.21 and a 200 day simple moving average of $44.89. Guardant Health has a fifty-two week low of $20.14 and a fifty-two week high of $53.42. The company has a market capitalization of $5.17 billion, a PE ratio of -12.36 and a beta of 1.43.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.84) earnings per share. As a group, equities research analysts expect that Guardant Health will post -2.9 EPS for the current year.

Insiders Place Their Bets

In other news, Director Meghan V. Joyce sold 3,337 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $47.22, for a total value of $157,573.14. Following the completion of the transaction, the director owned 11,150 shares of the company's stock, valued at $526,503. The trade was a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ian T. Clark sold 6,672 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $48.38, for a total transaction of $322,791.36. Following the completion of the transaction, the director directly owned 9,851 shares of the company's stock, valued at approximately $476,591.38. This represents a 40.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,516 shares of company stock valued at $11,848,754. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guardant Health

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new stake in Guardant Health during the 1st quarter worth $232,000. Stifel Financial Corp boosted its position in Guardant Health by 25.1% during the 4th quarter. Stifel Financial Corp now owns 49,927 shares of the company's stock worth $1,525,000 after purchasing an additional 10,006 shares during the period. Teacher Retirement System of Texas purchased a new stake in Guardant Health during the 1st quarter worth $866,000. Fifth Third Bancorp purchased a new stake in Guardant Health during the 1st quarter worth $279,000. Finally, Raymond James Financial Inc. purchased a new stake in Guardant Health during the 4th quarter worth $2,211,000. Institutional investors and hedge funds own 92.60% of the company's stock.

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.