Guardant Health (NASDAQ:GH) Sets New 52-Week High - What's Next?

Key Points

• Guardant Health shares reached a new 52-week high, trading as high as $184 and closing near $182.74. The stock has a market capitalization of approximately $24.77 billion.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $188.54; individual targets range as high as $215.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.42 per share versus estimates of $0.76 and revenue of $334.98 million, up 44.3% year over year. However, insiders sold more than $30 million of stock during the latest quarter.

Shares of Guardant Health, Inc. (NASDAQ:GH - Get Free Report) reached a new 52-week high during trading on Monday. The stock traded as high as $184.00 and last traded at $182.74, with a volume of 537547 shares changing hands. The stock had previously closed at $177.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GH shares. Stifel Nicolaus lifted their price objective on shares of Guardant Health from $130.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on Guardant Health from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Citigroup raised their price objective on Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Bank of America raised their price objective on shares of Guardant Health from $135.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 6th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $210.00 target price on shares of Guardant Health in a research report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $188.54.

Guardant Health Price Performance

The stock has a fifty day simple moving average of $165.62 and a two-hundred day simple moving average of $133.85. The firm has a market capitalization of $24.77 billion, a P/E ratio of -52.84 and a beta of 1.58.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million for the quarter, compared to the consensus estimate of $314.23 million. Guardant Health's quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.44) earnings per share. As a group, sell-side analysts expect that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 37,500 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $169.16, for a total transaction of $6,343,500.00. Following the transaction, the chief executive officer directly owned 37,500 shares in the company, valued at approximately $6,343,500. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alex Azar, II sold 826 shares of Guardant Health stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $175.00, for a total transaction of $144,550.00. Following the transaction, the director directly owned 825 shares in the company, valued at approximately $144,375. This represents a 50.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 178,755 shares of company stock valued at $30,040,636. Corporate insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Baker Tilly Wealth Management LLC purchased a new stake in shares of Guardant Health during the 3rd quarter valued at approximately $209,000. Eastern Bank lifted its stake in Guardant Health by 66.5% during the third quarter. Eastern Bank now owns 3,756 shares of the company's stock worth $670,000 after purchasing an additional 1,500 shares during the last quarter. Cim Investment Management Inc. bought a new position in Guardant Health during the second quarter valued at approximately $243,000. QRG Capital Management Inc. lifted its stake in Guardant Health by 12.9% in the second quarter. QRG Capital Management Inc. now owns 2,858 shares of the company's stock worth $429,000 after purchasing an additional 326 shares during the last quarter. Finally, Revere Asset Management Inc purchased a new position in shares of Guardant Health in the second quarter worth about $3,994,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Guardant Health Company Profile

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood- and tissue-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients throughout the course of their disease. Its testing platforms analyze circulating tumor DNA and other genomic information to provide insights into a tumor's molecular characteristics.

The company's products include Guardant360 tests for comprehensive genomic profiling in advanced cancer, Guardant360 CDx, which is approved as a companion diagnostic for certain targeted therapies, and Guardant360 Response for assessing how a tumor may be responding to treatment.

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