Guardant Health (NASDAQ:GH) Stock Price Up 5.4% – Still a Buy?

by · The Markets Daily

Guardant Health, Inc. (NASDAQ:GHGet Free Report)’s stock price traded up 5.4% on Tuesday . The stock traded as high as $175.74 and last traded at $176.8570. Approximately 939,987 shares traded hands during trading, a decline of 58% from the average session volume of 2,247,558 shares. The stock had previously closed at $167.84.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho increased their price target on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Sanford C. Bernstein restated an “outperform” rating and set a $210.00 price objective on shares of Guardant Health in a research report on Thursday, September 10th. Piper Sandler reaffirmed an “overweight” rating on shares of Guardant Health in a research note on Tuesday. Barclays increased their target price on Guardant Health from $150.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, BTIG Research reissued a “buy” rating and issued a $195.00 price target on shares of Guardant Health in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $188.12.

Read Our Latest Stock Analysis on Guardant Health

Guardant Health Price Performance

The stock’s 50-day moving average is $159.70 and its 200-day moving average is $125.37. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of -50.80 and a beta of 1.57.

Guardant Health (NASDAQ:GHGet Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. During the same quarter last year, the firm posted ($0.44) earnings per share. The company’s revenue was up 44.3% on a year-over-year basis. Analysts predict that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

Insider Activity

In other news, CEO Amirali Talasaz sold 143,028 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $151.54, for a total transaction of $21,674,463.12. Following the completion of the transaction, the chief executive officer owned 1,881,336 shares of the company’s stock, valued at $285,097,657.44. This represents a 7.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Terilyn J. Monroe sold 46,300 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the transaction, the insider owned 22,979 shares in the company, valued at approximately $3,794,292.48. The trade was a 66.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 426,908 shares of company stock valued at $67,098,183 in the last three months. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Several institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Guardant Health during the 2nd quarter worth approximately $208,592,000. William Blair Investment Management LLC acquired a new position in Guardant Health during the 2nd quarter valued at approximately $196,737,000. Norges Bank bought a new position in Guardant Health during the 4th quarter worth $128,499,000. Summit Partners Public Asset Management LLC grew its stake in Guardant Health by 674.5% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after buying an additional 741,958 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Guardant Health in the fourth quarter worth $55,073,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Guardant Health

(Get Free Report)

Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company’s products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.

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