Guardant Health (NASDAQ:GH) Upgraded by Evercore ISI to "Strong-Buy" Rating

Guardant Health (NASDAQ:GH - Get Free Report) was upgraded by stock analysts at Evercore ISI to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on GH. Stephens restated an "overweight" rating and set a $55.00 price target on shares of Guardant Health in a report on Wednesday, March 26th. Scotiabank reiterated an "outperform" rating on shares of Guardant Health in a report on Monday, May 5th. Piper Sandler reiterated an "overweight" rating and issued a $60.00 price target (up previously from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Barclays boosted their target price on shares of Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, TD Securities boosted 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. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Guardant Health presently has a consensus rating of "Buy" and an average price target of $54.45.

Guardant Health Price Performance

Shares of NASDAQ GH traded down $0.82 during trading on Monday, hitting $46.46. The stock had a trading volume of 1,769,359 shares, compared to its average volume of 2,176,361. Guardant Health has a 12 month low of $20.14 and a 12 month high of $53.42. The company has a market capitalization of $5.76 billion, a PE ratio of -13.71 and a beta of 1.44. The firm has a fifty day moving average of $46.30 and a two-hundred day moving average of $44.28.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, topping analysts' consensus estimates 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. During the same quarter in the prior year, the business earned ($0.46) EPS. Guardant Health's revenue for the quarter was up 20.8% compared to the same quarter last year. On average, equities analysts expect that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Myrtle S. Potter sold 2,626 shares of Guardant Health stock in a transaction on Monday, June 16th. The stock was sold at an average price of $49.70, for a total transaction of $130,512.20. Following the completion of the transaction, the director directly owned 18,180 shares of the company's stock, valued at approximately $903,546. The trade was a 12.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Meghan V. Joyce sold 3,337 shares of the company's stock in a transaction 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 sale, the director directly owned 11,150 shares in the company, valued at $526,503. This trade represents a 23.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 342,300 shares of company stock worth $17,082,238 over the last ninety days. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Guardant Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC increased its position in Guardant Health by 50.5% in the 2nd quarter. Signaturefd LLC now owns 635 shares of the company's stock valued at $33,000 after acquiring an additional 213 shares during the period. NewEdge Advisors LLC grew 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 acquiring an additional 230 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Guardant Health by 0.3% in the 1st quarter. American Century Companies Inc. now owns 104,206 shares of the company's stock worth $4,439,000 after acquiring an additional 282 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Guardant Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company's stock worth $377,000 after buying an additional 391 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Guardant Health by 0.9% in the first quarter. HighTower Advisors LLC now owns 51,107 shares of the company's stock worth $2,177,000 after buying an additional 469 shares during the period. Hedge funds and other institutional investors 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.