Guggenheim Issues Positive Forecast for Guardant Health (NASDAQ:GH) Stock Price

Key Points

• Guggenheim has raised its price target for Guardant Health (NASDAQ:GH) from $56.00 to $67.00, indicating a potential upside of 16.18% from the current price and maintaining a "buy" rating.
• Several brokerages have issued positive ratings for Guardant Health, with a consensus rating of "Buy" and a target price of $61.21, while other analysts have set targets ranging from $61.00 to $75.00.
• Guardant Health's recent earnings report showed a revenue increase of 31% year-over-year, surpassing expectations with $232.09 million for the quarter, and the CEO recently sold 300,000 shares of the stock.

Guardant Health (NASDAQ:GH - Get Free Report) had its price objective lifted by equities research analysts at Guggenheim from $56.00 to $67.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's price objective would indicate a potential upside of 16.18% from the company's current price.

A number of other brokerages have also issued reports on GH. Wells Fargo & Company started coverage on shares of Guardant Health in a research report on Monday. They set an "overweight" rating and a $72.00 target price on the stock. Evercore ISI upgraded shares of Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Raymond James Financial upped their target price on shares of Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Wolfe Research upgraded shares of Guardant Health from a "peer perform" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Thursday. Finally, Mizuho upped their target price on shares of Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the company's stock. According to MarketBeat.com, Guardant Health currently has a consensus rating of "Buy" and a consensus target price of $61.21.

Guardant Health Trading Down 3.4%

Shares of Guardant Health stock opened at $57.67 on Thursday. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of -17.21 and a beta of 1.46. Guardant Health has a 1-year low of $20.14 and a 1-year high of $68.00. The firm's 50-day moving average price is $55.08 and its two-hundred day moving average price is $48.55.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.08. The company had revenue of $232.09 million for the quarter, compared to analyst estimates of $211.19 million. During the same quarter in the previous year, the company posted ($0.84) earnings per share. Guardant Health's revenue for the quarter was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Guardant Health will post -2.9 EPS for the current year.

Insider Activity at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 300,000 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the sale, the chief executive officer directly owned 2,123,499 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the 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 sale, the director owned 851 shares in the company, 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. Insiders have sold 402,691 shares of company stock worth $23,069,965 over the last ninety days. Company insiders own 6.10% of the company's stock.

Institutional Investors Weigh In On Guardant Health

Several hedge funds have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Guardant Health by 27.3% in the second quarter. Invesco Ltd. now owns 3,558,501 shares of the company's stock worth $185,184,000 after purchasing an additional 763,834 shares during the period. Geode Capital Management LLC raised its holdings in Guardant Health by 0.5% in the second quarter. Geode Capital Management LLC now owns 2,920,714 shares of the company's stock worth $152,014,000 after purchasing an additional 13,088 shares during the period. ARK Investment Management LLC raised its holdings in Guardant Health by 100.4% in the second quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company's stock worth $146,935,000 after purchasing an additional 1,414,381 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Guardant Health by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,777,040 shares of the company's stock worth $118,302,000 after purchasing an additional 164,263 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Guardant Health by 78.2% in the second quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company's stock worth $120,730,000 after purchasing an additional 1,018,144 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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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