abrdn plc Makes New $9.36 Million Investment in Guardant Health, Inc. (NASDAQ:GH)

abrdn plc acquired a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 346,084 shares of the company's stock, valued at approximately $9,362,000. abrdn plc owned approximately 0.29% of Guardant Health at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC boosted its position in Guardant Health by 137.1% during the 3rd quarter. CWM LLC now owns 984 shares of the company's stock worth $29,000 after acquiring an additional 569 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Guardant Health during the 3rd quarter worth approximately $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 worth $102,000 after acquiring an additional 713 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Guardant Health during the 3rd quarter worth approximately $115,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in Guardant Health by 50.9% during 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 during the last quarter. Institutional investors own 92.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GH shares. 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. Guggenheim reiterated a "neutral" rating on shares of Guardant Health in a research note on Friday, April 5th. Piper Sandler dropped their price objective on Guardant Health from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, February 26th. JPMorgan Chase & Co. dropped their price objective on Guardant Health from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group dropped their price objective on Guardant Health from $32.00 to $28.00 and set a "buy" rating on the stock in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.27.

Guardant Health Stock Up 1.1 %

Guardant Health stock traded up $0.19 during mid-day trading on Friday, reaching $17.35. The stock had a trading volume of 697,962 shares, compared to its average volume of 2,178,555. The firm has a market capitalization of $2.11 billion, a PE ratio of -4.05 and a beta of 0.87. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. Guardant Health, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $41.06. The stock's 50-day simple moving average is $18.74 and its 200-day simple moving average is $22.88.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data 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 return on equity of 301.94% and a negative net margin of 85.02%. The business had revenue of $155.05 million during the quarter, compared to analysts' expectations of $151.71 million. On average, sell-side analysts forecast that Guardant Health, Inc. will post -3.49 EPS for the current fiscal year.

Insider Activity at Guardant Health

In other Guardant Health news, insider Kumud Kalia bought 2,187 shares of Guardant Health stock in a transaction that occurred on 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 $226,706.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.20% of the stock is currently owned by corporate insiders.

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.