Guardant Health (NASDAQ:GH) Stock Price Up 4.9%

Guardant Health, Inc. (NASDAQ:GH)’s share price traded up 4.9% during trading on Monday . The company traded as high as $18.61 and last traded at $18.50. 629,882 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,886,466 shares. The stock had previously closed at $17.63.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GH shares. Guggenheim reissued a “neutral” rating on shares of Guardant Health in a research report on Friday. Wolfe Research initiated coverage on Guardant Health in a report on Wednesday, December 13th. They set a “peer perform” rating on the stock. The Goldman Sachs Group reduced their price target on 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. lowered their price objective on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Finally, 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. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.30.

Guardant Health Stock Performance

The company has a 50 day simple moving average of $20.15 and a two-hundred day simple moving average of $23.90. 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 (NASDAQ:GH) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $151.71 million. As a group, equities analysts forecast that Guardant Health, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Transactions at Guardant Health

In other Guardant Health news, insider Kumud Kalia acquired 2,187 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were acquired at an average cost of $17.82 per share, for a total transaction of $38,972.34. Following the completion of the purchase, the insider now owns 12,722 shares of the company’s stock, valued at approximately $226,706.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. acquired a new stake in shares of Guardant Health in the fourth quarter valued at $167,137,000. Eventide Asset Management LLC raised its stake in shares of Guardant Health by 113.8% in the second quarter. Eventide Asset Management LLC now owns 4,008,602 shares of the company’s stock worth $143,508,000 after acquiring an additional 2,133,582 shares during the last quarter. Capital International Investors lifted its position in shares of Guardant Health by 71.0% during the first quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock worth $336,607,000 after purchasing an additional 2,110,240 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Guardant Health by 243.3% during the fourth quarter. Alliancebernstein L.P. now owns 2,515,992 shares of the company’s stock worth $68,435,000 after purchasing an additional 1,783,131 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Guardant Health during the fourth quarter worth approximately $25,520,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.