Jennison Associates LLC Sells 1,411,038 Shares of Guardant Health, Inc. (NASDAQ:GH)

Jennison Associates LLC decreased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 74.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 479,846 shares of the company's stock after selling 1,411,038 shares during the period. Jennison Associates LLC owned about 0.41% of Guardant Health worth $12,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB raised its stake in shares of Guardant Health by 31.8% in the fourth quarter. Handelsbanken Fonder AB now owns 161,341 shares of the company's stock valued at $4,364,000 after acquiring an additional 38,900 shares during the last quarter. abrdn plc bought a new position in shares of Guardant Health in the fourth quarter valued at approximately $9,362,000. Knights of Columbus Asset Advisors LLC raised its stake in shares of Guardant Health by 108.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 79,026 shares of the company's stock valued at $2,138,000 after acquiring an additional 41,059 shares during the last quarter. Strs Ohio raised its stake in shares of Guardant Health by 19.0% in the fourth quarter. Strs Ohio now owns 23,800 shares of the company's stock valued at $643,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Guardant Health by 207.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 343,745 shares of the company's stock valued at $9,298,000 after acquiring an additional 231,904 shares during the last quarter. Institutional investors own 92.60% of the company's stock.

Insider Activity

In other news, insider Kumud Kalia acquired 2,187 shares of the business's 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 completion of the transaction, the insider now directly owns 12,722 shares of the company's stock, valued at approximately $226,706.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is currently owned by company insiders.

Guardant Health Stock Performance

NASDAQ GH traded up $0.19 during trading on Friday, reaching $17.35. 697,962 shares of the company's stock were exchanged, compared to its average volume of 1,880,424. Guardant Health, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $41.06. The stock has a market capitalization of $2.11 billion, a P/E ratio of -4.03 and a beta of 0.87. The business has a 50 day moving average price of $18.84 and a 200-day moving average price of $22.96. The company has a debt-to-equity ratio of 7.18, a current ratio of 6.54 and a quick ratio of 6.24.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.58) EPS 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 company had revenue of $155.05 million during the quarter, compared to analyst estimates of $151.71 million. Sell-side analysts forecast that Guardant Health, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Craig Hallum assumed coverage on shares of Guardant Health in a report on Wednesday. They issued a "buy" rating and a $28.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of Guardant Health from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, February 23rd. Canaccord Genuity Group lowered their price target on shares of Guardant Health from $50.00 to $45.00 and set a "buy" rating for the company in a report on Friday, February 23rd. The Goldman Sachs Group lowered their price target on shares of Guardant Health from $32.00 to $28.00 and set a "buy" rating for the company in a report on Monday, April 15th. Finally, Piper Sandler lowered their price target on shares of Guardant Health from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Guardant Health has a consensus rating of "Moderate Buy" and a consensus target price of $39.27.

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.