Guardant Health's (GH) "Outperform" Rating Reiterated at William Blair

Key Points

• Guardant Health's stock maintains an "outperform" rating from William Blair, with multiple analysts increasing their price targets, leading to a current average target price of $62.95.
• The company reported earnings of ($0.44) EPS, outperforming expectations, and revenue growth of 31% year-over-year at $232.09 million.
• Recent insider trades show significant selling by CEO Amirali Talasaz, reducing his stake by 4.83% following the sale of 100,000 shares, valued at over $5 million.

Guardant Health (NASDAQ:GH - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at William Blair in a report released on Thursday,RTT News reports.

GH has been the topic of a number of other research reports. Raymond James Financial raised their price objective on Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Scotiabank boosted their price objective on Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Mizuho lifted their price target on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. JPMorgan Chase & Co. lifted their target price on Guardant Health from $60.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, UBS Group upped their price objective on Guardant Health from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the stock. Based on data from MarketBeat, Guardant Health has a consensus rating of "Buy" and an average target price of $62.95.

Guardant Health Price Performance

Shares of NASDAQ:GH traded up $3.23 during mid-day trading on Thursday, reaching $60.90. 2,124,473 shares of the company traded hands, compared to its average volume of 2,396,983. The company's 50 day moving average price is $55.08 and its 200-day moving average price is $48.55. Guardant Health has a 52 week low of $20.14 and a 52 week high of $68.00. The firm has a market cap of $7.59 billion, a PE ratio of -18.14 and a beta of 1.46.

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, beating analysts' consensus estimates of ($0.52) by $0.08. The firm had revenue of $232.09 million for the quarter, compared to the consensus estimate of $211.19 million. During the same quarter in the prior year, the company posted ($0.84) earnings per share. The firm's revenue was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. On average, research analysts predict that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Guardant Health news, CEO Amirali Talasaz sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 directly owned 1,971,830 shares of the company's stock, valued at $100,326,710.40. This trade represents a 4.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $117,256.40. Following the sale, the director owned 851 shares of the company's stock, valued at approximately $46,090.16. This trade represents a 71.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 402,691 shares of company stock valued at $23,069,965. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Guardant Health

Several large investors have recently added to or reduced their stakes in GH. IFP Advisors Inc lifted its stake in Guardant Health by 120.1% during the 2nd 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 boosted its stake in shares of Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company's stock valued at $33,000 after buying an additional 213 shares in the last quarter. Allworth Financial LP raised its holdings in Guardant Health by 358.4% during the second quarter. Allworth Financial LP now owns 706 shares of the company's stock worth $37,000 after purchasing an additional 552 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Guardant Health in the second quarter valued at $62,000. Finally, SVB Wealth LLC purchased a new stake in Guardant Health during the first quarter valued at about $54,000. 92.60% of the stock is currently 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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