Guardant Health (NASDAQ:GH) Price Target Raised to $57.00 at Scotiabank

Guardant Health (NASDAQ:GH - Free Report) had its price target upped by Scotiabank from $52.00 to $57.00 in a report released on Monday,Benzinga reports. They currently have a sector outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Guggenheim reiterated a "buy" rating and issued a $56.00 target price on shares of Guardant Health in a report on Monday, February 24th. Piper Sandler increased their target price on Guardant Health from $34.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Mizuho initiated coverage on shares of Guardant Health in a research report on Thursday, April 10th. They set an "outperform" rating and a $55.00 price target on the stock. Barclays increased their target price on shares of Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Twenty-one analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Guardant Health presently has a consensus rating of "Buy" and an average target price of $52.32.

Guardant Health Stock Performance

Shares of NASDAQ:GH traded down $2.19 during midday trading on Monday, hitting $39.74. The company's stock had a trading volume of 3,547,616 shares, compared to its average volume of 2,219,597. Guardant Health has a 12-month low of $18.01 and a 12-month high of $52.92. The company has a market cap of $4.92 billion, a P/E ratio of -11.16 and a beta of 1.49. The business's 50 day simple moving average is $43.70 and its 200 day simple moving average is $38.55.

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

Insider Buying and Selling

In other news, CEO Amirali Talasaz sold 106,784 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the transaction, the chief executive officer now directly owns 2,202,672 shares in the company, valued at $107,952,954.72. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 107,132 shares of company stock valued at $5,249,355 over the last quarter. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guardant Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its stake in shares of Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after buying an additional 230 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Guardant Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company's stock valued at $377,000 after acquiring an additional 391 shares during the period. Arizona State Retirement System boosted its position in shares of Guardant Health by 1.1% during the 4th quarter. Arizona State Retirement System now owns 35,639 shares of the company's stock worth $1,089,000 after purchasing an additional 403 shares in the last quarter. GF Fund Management CO. LTD. grew its stake in shares of Guardant Health by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,164 shares of the company's stock worth $135,000 after purchasing an additional 570 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Guardant Health by 6.8% in the 1st quarter. Xponance Inc. now owns 9,116 shares of the company's stock valued at $388,000 after purchasing an additional 582 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

About Guardant Health

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.