Hood River Capital Management LLC Increases Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

Hood River Capital Management LLC lifted its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,957 shares of the company's stock after purchasing an additional 11,079 shares during the period. Hood River Capital Management LLC owned about 0.16% of Guardant Health worth $6,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GH. Vanguard Group Inc. grew its holdings in shares of Guardant Health by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company's stock worth $368,205,000 after buying an additional 350,606 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Guardant Health by 19.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after acquiring an additional 238,037 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in Guardant Health by 15.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after acquiring an additional 197,729 shares in the last quarter. Norges Bank purchased a new position in Guardant Health in the fourth quarter worth $36,438,000. Finally, Charles Schwab Investment Management Inc. raised its position in Guardant Health by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,016,533 shares of the company's stock worth $31,055,000 after acquiring an additional 13,395 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GH. Mizuho began coverage on Guardant Health in a research report on Thursday, April 10th. They issued an "outperform" rating and a $55.00 price objective for the company. The Goldman Sachs Group raised their price target on Guardant Health from $49.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on Guardant Health from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Stephens restated an "overweight" rating and issued a $55.00 price target on shares of Guardant Health in a research report on Wednesday, March 26th. Finally, Canaccord Genuity Group raised their price target on Guardant Health from $42.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $49.00.

Guardant Health Price Performance

NASDAQ:GH traded up $0.68 during mid-day trading on Tuesday, reaching $48.67. The company's stock had a trading volume of 568,461 shares, compared to its average volume of 2,137,088. The stock has a market cap of $6.01 billion, a P/E ratio of -13.68 and a beta of 1.45. Guardant Health, Inc. has a twelve month low of $17.52 and a twelve month high of $50.89. The company's fifty day simple moving average is $43.35 and its two-hundred day simple moving average is $37.60.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The firm had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. Sell-side analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

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.