Guardant Health (NASDAQ:GH) Price Target Cut to $30.00

Guardant Health (NASDAQ:GH) had its price objective dropped by research analysts at Canaccord Genuity Group from $45.00 to $30.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 64.93% from the stock’s previous close.

A number of other brokerages have also recently commented on GH. Piper Sandler dropped their target price on Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Guggenheim reaffirmed a “neutral” rating on shares of Guardant Health in a research note on Friday, April 5th. Craig Hallum started coverage on shares of Guardant Health in a research report on Wednesday, April 24th. They issued a “buy” rating and a $28.00 price objective on the stock. The Goldman Sachs Group cut their target price on Guardant Health from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. cut their price objective on Guardant Health from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.91.

Guardant Health Price Performance

Shares of Guardant Health stock traded up $0.84 during trading on Monday, reaching $18.19. 202,451 shares of the stock traded hands, compared to its average volume of 1,859,625. Guardant Health has a 52-week low of $15.81 and a 52-week high of $41.06. The company has a debt-to-equity ratio of 7.18, a current ratio of 6.54 and a quick ratio of 6.24. The business has a fifty day simple moving average of $18.74 and a two-hundred day simple moving average of $22.80. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -4.23 and a beta of 0.87.

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

Insider Activity at Guardant Health

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

Institutional Trading of Guardant Health

Several hedge funds and other institutional investors have recently made changes to their positions in GH. Vanguard Group Inc. increased its stake in Guardant Health by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,950,230 shares of the company’s stock valued at $324,565,000 after purchasing an additional 146,902 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Guardant Health by 2.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 568,148 shares of the company’s stock worth $16,840,000 after acquiring an additional 16,111 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Guardant Health during the 3rd quarter valued at about $1,689,000. Rhumbline Advisers increased its holdings in shares of Guardant Health by 5.8% in the third quarter. Rhumbline Advisers now owns 159,660 shares of the company’s stock valued at $4,732,000 after purchasing an additional 8,688 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Guardant Health by 31.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,211,499 shares of the company’s stock worth $35,909,000 after purchasing an additional 292,888 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Guardant Health

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.