New York Life Investment Management LLC Makes New $1.13 Million Investment in Guardant Health, Inc. $GH

New York Life Investment Management LLC bought a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 11,016 shares of the company’s stock, valued at approximately $1,125,000.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Guardant Health in the fourth quarter valued at approximately $27,000. Chesapeake Asset Management LLC bought a new position in Guardant Health in the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Guardant Health in the fourth quarter valued at approximately $31,000. First Pacific Financial bought a new position in Guardant Health in the fourth quarter valued at approximately $43,000. Finally, Optiver Holding B.V. lifted its stake in Guardant Health by 153.5% in the third quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock valued at $48,000 after buying an additional 465 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Up 2.6%

Shares of GH stock opened at $98.19 on Wednesday. The company’s fifty day simple moving average is $89.50 and its 200-day simple moving average is $98.46. The firm has a market cap of $13.02 billion, a PE ratio of -28.96 and a beta of 1.48. Guardant Health, Inc. has a 12 month low of $36.36 and a 12 month high of $120.74.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The firm had revenue of $281.27 million for the quarter, compared to analyst estimates of $269.74 million. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.62) earnings per share. On average, equities analysts predict that Guardant Health, Inc. will post -2.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In related news, CFO Michael Brian Bell sold 3,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $87.04, for a total transaction of $261,120.00. Following the sale, the chief financial officer owned 43,601 shares in the company, valued at approximately $3,795,031.04. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amirali Talasaz sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $100.32, for a total value of $5,016,000.00. Following the sale, the chief executive officer owned 2,096,504 shares in the company, valued at $210,321,281.28. The trade was a 2.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 58,712 shares of company stock valued at $5,802,899 in the last ninety days. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GH has been the topic of a number of research reports. TD Cowen lifted their price target on shares of Guardant Health from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Wells Fargo & Company boosted their price target on Guardant Health from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, February 20th. JPMorgan Chase & Co. boosted their price target on Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Raymond James Financial restated an “outperform” rating and issued a $129.00 price target on shares of Guardant Health in a report on Monday, February 23rd. Finally, Barclays boosted their price target on Guardant Health from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Nineteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.42.

About Guardant Health

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.