Sumitomo Mitsui Trust Holdings Inc. Grows Stock Position in Guardant Health, Inc. (NASDAQ:GH)

Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 207.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 343,745 shares of the company's stock after purchasing an additional 231,904 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of Guardant Health worth $9,298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in GH. CWM LLC boosted its stake in shares of Guardant Health by 137.1% during the third quarter. CWM LLC now owns 984 shares of the company's stock valued at $29,000 after purchasing an additional 569 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in Guardant Health during the third quarter worth $35,000. Nisa Investment Advisors LLC boosted its position in Guardant Health by 26.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,450 shares of the company's stock valued at $102,000 after acquiring an additional 713 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Guardant Health in the 3rd quarter valued at $115,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Guardant Health by 50.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,421 shares of the company's stock worth $131,000 after acquiring an additional 1,491 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Guardant Health

In other news, insider Kumud Kalia purchased 2,187 shares of the stock in a transaction dated Monday, March 18th. The stock was acquired at an average cost of $17.82 per share, for a total transaction of $38,972.34. Following the completion of the transaction, the insider now directly owns 12,722 shares in the company, valued at approximately $226,706.04. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 6.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GH. JPMorgan Chase & Co. reduced their price target on Guardant Health from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, February 23rd. Craig Hallum began coverage on Guardant Health in a report on Wednesday. They issued a "buy" rating and a $28.00 price target for the company. Guggenheim restated a "neutral" rating on shares of Guardant Health in a report on Friday, April 5th. Canaccord Genuity Group decreased their price objective on shares of Guardant Health from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group dropped their target price on shares of Guardant Health from $32.00 to $28.00 and set a "buy" rating on the stock in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.27.

Guardant Health Price Performance

Shares of NASDAQ:GH traded up $0.76 during midday trading on Wednesday, hitting $18.10. The company had a trading volume of 1,796,030 shares, compared to its average volume of 1,894,619. The company has a debt-to-equity ratio of 7.18, a current ratio of 6.54 and a quick ratio of 6.24. The business's 50-day simple moving average is $19.02 and its 200-day simple moving average is $23.03. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -4.23 and a beta of 0.87. Guardant Health, Inc. has a twelve month low of $15.81 and a twelve month high of $41.06.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.65). Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. The firm had revenue of $155.05 million during the quarter, compared to analyst estimates of $151.71 million. On average, research analysts predict that Guardant Health, Inc. will post -3.49 earnings per share for the current 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.