PDT Partners LLC Boosts Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

PDT Partners LLC raised its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 240,473 shares of the company's stock after purchasing an additional 20,931 shares during the period. Guardant Health comprises about 0.7% of PDT Partners LLC's portfolio, making the stock its 7th largest holding. PDT Partners LLC owned approximately 0.19% of Guardant Health worth $7,346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GH. NewEdge Advisors LLC grew its position in shares of Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after acquiring an additional 230 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Guardant Health by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company's stock valued at $377,000 after buying an additional 391 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Guardant Health by 1.1% during the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company's stock worth $1,089,000 after buying an additional 403 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Guardant Health by 43.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company's stock valued at $82,000 after purchasing an additional 817 shares during the period. Finally, Fiduciary Alliance LLC raised its stake in shares of Guardant Health by 7.6% during the fourth quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company's stock valued at $363,000 after purchasing an additional 836 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GH. Piper Sandler increased their target price on shares of Guardant Health from $34.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Raymond James reiterated an "outperform" rating and issued a $59.00 price objective (up from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Guggenheim reissued a "buy" rating and set a $56.00 target price on shares of Guardant Health in a report on Monday, February 24th. UBS Group increased their price target on Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price 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-one investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $51.64.

Guardant Health Stock Performance

NASDAQ:GH traded down $2.02 during trading hours on Friday, hitting $46.85. 5,069,360 shares of the company's stock traded hands, compared to its average volume of 2,188,519. The stock's fifty day moving average price is $43.74 and its two-hundred day moving average price is $38.12. The firm has a market cap of $5.78 billion, a P/E ratio of -13.16 and a beta of 1.45. Guardant Health, Inc. has a twelve month low of $18.01 and a twelve month high of $52.92.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.57) by $0.08. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The business had revenue of $203.47 million during the quarter, compared to analyst estimates of $189.91 million. During the same period in the prior year, the firm earned ($0.46) earnings per share. The firm's revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

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.