Guardant Health (NASDAQ:GH) Director Sells 116 Shares of Stock

Key Points

• Guardant Health director Musa Tariq sold 116 shares at an average price of $165.88, generating $19,242.08. The Rule 10b5-1 transaction reduced his holdings by 0.99%, leaving him with 11,583 shares.
• Guardant Health shares fell 0.5% to $157.88, but the company recently reported stronger-than-expected results, including quarterly revenue of $334.98 million, up 44.3% year over year.
• Analysts maintain a broadly positive view, with a consensus “Moderate Buy” rating and an average price target of $190. Institutional investors own 92.6% of the company.

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) Director Musa Tariq sold 116 shares of Guardant Health stock in a transaction on Friday, October 16th. The shares were sold at an average price of $165.88, for a total transaction of $19,242.08. Following the completion of the sale, the director owned 11,583 shares of the company's stock, valued at $1,921,388.04. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Musa Tariq also recently made the following trade(s):

• On Wednesday, September 16th, Musa Tariq sold 116 shares of Guardant Health stock. The stock was sold at an average price of $175.00, for a total transaction of $20,300.00.
• On Monday, August 17th, Musa Tariq sold 116 shares of Guardant Health stock. The stock was sold at an average price of $156.45, for a total transaction of $18,148.20.

Guardant Health Stock Down 0.5%

GH traded down $0.72 during midday trading on Monday, hitting $157.88. The company had a trading volume of 1,869,720 shares, compared to its average volume of 2,211,743. Guardant Health, Inc. has a 52 week low of $65.96 and a 52 week high of $191.05. The company has a market capitalization of $21.19 billion, a price-to-earnings ratio of -45.24 and a beta of 1.58. The stock's 50 day moving average price is $167.94 and its 200 day moving average price is $139.53.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to analyst estimates of $314.23 million. Guardant Health's revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.44) EPS. Research analysts predict that Guardant Health, Inc. will post -3.02 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GH shares. Piper Sandler reaffirmed an "overweight" rating on shares of Guardant Health in a research note on Tuesday, September 15th. Rothschild & Co Redburn began coverage on Guardant Health in a research note on Tuesday, September 8th. They issued a "buy" rating and a $203.00 price objective for the company. Guggenheim boosted their price objective on Guardant Health from $190.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Stephens upped their target price on Guardant Health from $170.00 to $195.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, Bank of America increased their target price on Guardant Health from $135.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $190.00.

Institutional Investors Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ninepoint Partners LP bought a new position in Guardant Health in the 2nd quarter valued at $2,853,000. Orbimed Advisors LLC bought a new stake in shares of Guardant Health during the 1st quarter worth $40,199,000. GSA Capital Partners LLP bought a new stake in shares of Guardant Health during the 2nd quarter worth $1,772,000. Eagle Health Investments LP purchased a new position in shares of Guardant Health in the 2nd quarter worth about $45,112,000. Finally, SWS Partners purchased a new position in shares of Guardant Health in the 2nd quarter worth about $11,190,000. 92.60% of the stock is owned by institutional investors.

About Guardant Health

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood-based tests and data solutions designed to help detect cancer, guide treatment decisions and monitor patients over time. Its technologies analyze circulating tumor DNA and other molecular information from blood samples, supporting more accessible and less invasive alternatives to some tissue-based testing approaches.

The company's products include Guardant360, which helps identify genomic alterations in advanced cancers and may inform targeted treatment selection; Guardant360 Response, designed to assess a patient's response to therapy; and Guardant Reveal, which is used to detect minimal residual disease and recurrence risk in certain cancers.

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