Guggenheim Reaffirms Neutral Rating for Guardant Health (NASDAQ:GH)

Guardant Health (NASDAQ:GH)‘s stock had its “neutral” rating reissued by investment analysts at Guggenheim in a note issued to investors on Friday, Benzinga reports.

GH has been the topic of a number of other reports. Canaccord Genuity Group reduced their price objective on shares of Guardant Health from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. The Goldman Sachs Group reduced their price objective on shares of Guardant Health from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Monday, January 29th. JPMorgan Chase & Co. reduced their target price on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Piper Sandler reduced their target price on shares of Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, February 26th. Finally, Wolfe Research initiated coverage on shares of Guardant Health in a research report on Wednesday, December 13th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.30.

Guardant Health Price Performance

GH traded up $0.07 on Friday, reaching $18.22. The company had a trading volume of 155,258 shares, compared to its average volume of 1,871,208. The business has a 50 day simple moving average of $20.26 and a 200 day simple moving average of $24.03. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -4.26 and a beta of 0.87. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. Guardant Health has a 52-week low of $16.92 and a 52-week high of $41.06.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, February 22nd. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.65). Guardant Health had a negative return on equity of 301.94% and a negative net margin of 85.02%. The firm had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $151.71 million. As a group, sell-side analysts anticipate that Guardant Health will post -3.49 EPS for the current year.

Insider Buying and Selling at Guardant Health

In related news, insider Kumud Kalia bought 2,187 shares of the stock in a transaction on Monday, March 18th. The shares were acquired at an average price of $17.82 per share, for a total transaction of $38,972.34. Following the purchase, the insider now owns 12,722 shares of the company’s stock, valued at $226,706.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in shares of Guardant Health by 33.2% during the 2nd quarter. Captrust Financial Advisors now owns 1,087 shares of the company’s stock valued at $44,000 after buying an additional 271 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Guardant Health by 2.1% during the 3rd quarter. Baird Financial Group Inc. now owns 14,580 shares of the company’s stock valued at $785,000 after buying an additional 296 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Guardant Health by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 48,907 shares of the company’s stock valued at $2,633,000 after buying an additional 385 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Guardant Health by 2.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,854 shares of the company’s stock valued at $500,000 after buying an additional 453 shares in the last quarter. Finally, Amalgamated Bank raised its position in Guardant Health by 3.2% in the 3rd quarter. Amalgamated Bank now owns 17,058 shares of the company’s stock worth $506,000 after purchasing an additional 521 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Company Profile

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.