Guardant Health (NASDAQ:GH) Upgraded to “Strong-Buy” at Rothschild & Co Redburn

Guardant Health (NASDAQ:GH) was upgraded by analysts at Rothschild & Co Redburn to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

A number of other analysts have also recently weighed in on the stock. Mizuho increased their price target on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Wolfe Research started coverage on shares of Guardant Health in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 target price on shares of Guardant Health in a research note on Friday, July 31st. Morgan Stanley raised their price target on Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, UBS Group set a $150.00 price target on Guardant Health in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $184.58.

Guardant Health Trading Down 0.3%

Shares of NASDAQ GH opened at $160.98 on Tuesday. Guardant Health has a twelve month low of $53.40 and a twelve month high of $176.58. The stock has a 50 day moving average of $160.27 and a two-hundred day moving average of $123.62. The stock has a market cap of $21.60 billion, a P/E ratio of -46.13 and a beta of 1.57.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million for the quarter, compared to analysts’ expectations of $314.23 million. The business’s revenue was up 44.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) earnings per share. As a group, research analysts predict that Guardant Health will post -2.98 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Chris Freeman sold 63,605 shares of Guardant Health stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $169.58, for a total value of $10,786,135.90. Following the sale, the insider owned 65,374 shares of the company’s stock, valued at $11,086,122.92. The trade was a 49.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian T. Clark sold 14,180 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the transaction, the director owned 2,975 shares in the company, valued at approximately $472,787. This trade represents a 82.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 427,024 shares of company stock worth $67,113,285 in the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after buying an additional 25,831 shares in the last quarter. Empowered Funds LLC purchased a new position in Guardant Health in the first quarter worth $274,000. Sei Investments Co. lifted its holdings in Guardant Health by 15.8% in the second quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after acquiring an additional 10,538 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Guardant Health by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock worth $32,922,000 after purchasing an additional 54,284 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Guardant Health by 56.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock worth $5,800,000 after purchasing an additional 40,209 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.