LPL Financial LLC Trims Stake in Guardant Health, Inc. (NASDAQ:GH)

LPL Financial LLC lessened its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 41.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,428 shares of the company's stock after selling 11,422 shares during the quarter. LPL Financial LLC's holdings in Guardant Health were worth $502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new position in Guardant Health during the 3rd quarter worth approximately $15,624,000. Sumitomo Mitsui Trust Group Inc. raised its position in Guardant Health by 19.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company's stock valued at $44,732,000 after acquiring an additional 238,037 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Guardant Health by 15.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,464,213 shares of the company's stock valued at $44,732,000 after purchasing an additional 197,729 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Guardant Health during the 4th quarter worth about $2,211,000. Finally, SWS Partners raised its position in shares of Guardant Health by 44.3% in the fourth quarter. SWS Partners now owns 120,888 shares of the company's stock valued at $3,693,000 after purchasing an additional 37,126 shares during the period. Institutional investors own 92.60% of the company's stock.

Guardant Health Price Performance

Shares of NASDAQ:GH traded down $2.30 during trading on Wednesday, hitting $47.23. 3,562,768 shares of the company were exchanged, compared to its average volume of 2,156,369. Guardant Health, Inc. has a 52-week low of $17.85 and a 52-week high of $50.89. The company has a market cap of $5.83 billion, a PE ratio of -13.27 and a beta of 1.45. The stock has a 50 day moving average of $43.48 and a 200 day moving average of $37.75.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) 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 analysts' expectations of $192.50 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. Sell-side analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GH has been the subject of several research analyst reports. Barclays cut their target price on shares of Guardant Health from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Morgan Stanley raised their price objective on shares of Guardant Health from $42.00 to $52.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Mizuho initiated coverage on shares of Guardant Health in a research note on Thursday, April 10th. They issued an "outperform" rating and a $55.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Guardant Health from $45.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price objective on Guardant Health from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Twenty analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $49.00.

Guardant Health 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.