Meridiem Capital Partners LP Cuts Stock Holdings in Guardant Health, Inc. $GH

by · The Markets Daily

Meridiem Capital Partners LP lowered its holdings in Guardant Health, Inc. (NASDAQ:GH – Free Report) by 27.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,681 shares of the company’s stock after selling 14,101 shares during the quarter. Meridiem Capital Partners LP’s holdings in Guardant Health were worth $2,292,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Allworth Financial LP increased its holdings in Guardant Health by 358.4% during the second quarter. Allworth Financial LP now owns 706 shares of the company’s stock valued at $37,000 after buying an additional 552 shares during the period. Sound Income Strategies LLC purchased a new stake in Guardant Health during the third quarter worth $38,000. Optiver Holding B.V. boosted its position in Guardant Health by 153.5% during the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock valued at $48,000 after acquiring an additional 465 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Guardant Health by 162.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,096 shares of the company’s stock valued at $68,000 after acquiring an additional 678 shares during the period. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Guardant Health by 99.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,366 shares of the company’s stock valued at $71,000 after acquiring an additional 681 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Transactions at Guardant Health

In other news, Director Medina Manuel Hidalgo sold 1,300 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $91.54, for a total value of $119,002.00. Following the completion of the transaction, the director directly owned 1,193 shares in the company, valued at $109,207.22. This trade represents a 52.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Terilyn J. Monroe sold 10,031 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $112.08, for a total value of $1,124,274.48. Following the completion of the transaction, the insider owned 20,990 shares of the company’s stock, valued at approximately $2,352,559.20. The trade was a 32.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 116,034 shares of company stock worth $12,202,492. Insiders own 6.10% of the company’s stock.

Guardant Health Price Performance

NASDAQ:GH traded up $3.56 during trading hours on Friday, hitting $87.58. 167,776 shares of the company were exchanged, compared to its average volume of 2,014,899. Guardant Health, Inc. has a 52-week low of $36.36 and a 52-week high of $120.74. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of -26.37 and a beta of 1.67. The company’s 50 day moving average price is $104.24 and its 200-day moving average price is $89.49.

Guardant Health (NASDAQ:GH – Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The business had revenue of $281.27 million for the quarter, compared to analyst estimates of $269.74 million. The company’s revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.62) earnings per share. On average, equities analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Analyst Ratings Changes

GH has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Guardant Health from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Piper Sandler lifted their target price on Guardant Health from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. BTIG Research boosted their target price on shares of Guardant Health from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Wells Fargo & Company increased their price target on shares of Guardant Health from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Finally, Leerink Partners raised their price target on shares of Guardant Health from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Twenty-one investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Guardant Health presently has a consensus rating of “Moderate Buy” and an average price target of $122.57.

Read Our Latest Analysis on Guardant Health

Guardant Health Profile

(Free Report)

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

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