Guardant Health, Inc. (NASDAQ:GH) Stock Has Consensus Target Price of $188.12 According to Brokerages

by · The Cerbat Gem

Shares of Guardant Health, Inc. (NASDAQ:GH – Get Free Report) have received an average rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twenty-three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $188.54.

Several analysts have recently commented on GH shares. Morgan Stanley increased their price objective on Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada boosted their target price on Guardant Health from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Citigroup increased their target price on shares of Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. TD Cowen reissued a “buy” rating on shares of Guardant Health in a research report on Tuesday, August 25th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $210.00 price target on shares of Guardant Health in a research note on Friday, July 31st.

Read Our Latest Stock Report on Guardant Health

Guardant Health Trading Up 1.7%

NASDAQ:GH opened at $177.80 on Friday. The stock’s 50-day moving average is $165.62 and its 200-day moving average is $133.52. Guardant Health has a 1-year low of $61.00 and a 1-year high of $183.51. The stock has a market cap of $23.86 billion, a P/E ratio of -50.95 and a beta of 1.58.

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

Insiders Place Their Bets

In other news, insider Chris Freeman sold 63,605 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the completion of the transaction, the insider directly owned 65,374 shares in the company, valued at $11,086,122.92. The trade was a 49.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ian T. Clark sold 14,180 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the completion of the transaction, the director owned 2,975 shares in the company, valued at approximately $472,787. This trade represents a 82.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,755 shares of company stock worth $30,040,636 over the last quarter. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its holdings in shares of Guardant Health by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company’s stock worth $343,348,000 after acquiring an additional 435,232 shares during the last quarter. Geode Capital Management LLC increased its stake in Guardant Health by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company’s stock valued at $328,297,000 after acquiring an additional 277,001 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Guardant Health during the second quarter valued at about $208,592,000. William Blair Investment Management LLC purchased a new stake in Guardant Health during the second quarter valued at about $196,737,000. Finally, Norges Bank bought a new stake in Guardant Health during the fourth quarter worth about $128,499,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Company Profile

(Get Free Report)

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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