Guardant Health (NASDAQ:GH - Get Free Report) had its target price dropped by investment analysts at The Goldman Sachs Group from $32.00 to $28.00 in a report released on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 64.13% from the company's current price.
A number of other brokerages also recently issued reports on GH. JPMorgan Chase & Co. dropped their price target on shares of Guardant Health from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, February 23rd. Guggenheim restated a "neutral" rating on shares of Guardant Health in a report on Friday, April 5th. Piper Sandler decreased their price target on Guardant Health from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, February 26th. Finally, Canaccord Genuity Group dropped their price objective on Guardant Health from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.40.
Get Our Latest Stock Report on Guardant Health
Guardant Health Price Performance
Shares of NASDAQ GH traded down $1.20 during midday trading on Monday, reaching $17.06. 2,700,322 shares of the company were exchanged, compared to its average volume of 1,899,325. The stock's 50-day moving average price is $19.78 and its 200-day moving average price is $23.64. The stock has a market cap of $2.08 billion, a P/E ratio of -3.99 and a beta of 0.87. The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. Guardant Health has a one year low of $16.92 and a one year high of $41.06.
Guardant Health (NASDAQ:GH - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.93) by ($0.65). Guardant Health had a negative return on equity of 301.94% and a negative net margin of 85.02%. The firm had revenue of $155.05 million during the quarter, compared to analyst estimates of $151.71 million. On average, sell-side analysts anticipate that Guardant Health will post -3.49 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Guardant Health news, insider Kumud Kalia purchased 2,187 shares of Guardant Health stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average price of $17.82 per share, with a total value of $38,972.34. Following the transaction, the insider now owns 12,722 shares in the company, valued at approximately $226,706.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.20% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Guardant Health by 1.4% during the third quarter. Vanguard Group Inc. now owns 10,950,230 shares of the company's stock worth $324,565,000 after purchasing an additional 146,902 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Guardant Health by 2.9% in the third quarter. The Manufacturers Life Insurance Company now owns 568,148 shares of the company's stock valued at $16,840,000 after acquiring an additional 16,111 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Guardant Health during the third quarter valued at approximately $1,689,000. Rhumbline Advisers lifted its holdings in Guardant Health by 5.8% during the third quarter. Rhumbline Advisers now owns 159,660 shares of the company's stock worth $4,732,000 after acquiring an additional 8,688 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Guardant Health by 31.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,211,499 shares of the company's stock worth $35,909,000 after purchasing an additional 292,888 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company's stock.
About Guardant Health
(
Get Free Report)
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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