Guardant Health (NASDAQ:GH) Director Alex Azar II Sells 69 Shares of Company Stock

Guardant Health, Inc. (NASDAQ:GH) Director Alex Azar II sold 69 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $159.89, for a total value of $11,032.41. Following the transaction, the director owned 893 shares in the company, valued at $142,781.77. This represents a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Stock Up 1.8%

GH traded up $2.89 during trading on Thursday, hitting $165.88. 1,328,962 shares of the stock were exchanged, compared to its average volume of 2,214,661. Guardant Health, Inc. has a 1-year low of $64.00 and a 1-year high of $191.05. The stock has a fifty day moving average price of $167.97 and a two-hundred day moving average price of $138.45. The firm has a market capitalization of $22.26 billion, a P/E ratio of -47.53 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. Guardant Health’s revenue was up 44.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.44) earnings per share. Analysts predict that Guardant Health, Inc. will post -2.98 EPS for the current year.

Wall Street Analysts Forecast Growth

GH has been the subject of a number of recent research reports. UBS Group increased their price target on shares of Guardant Health from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research report on Friday, July 17th. Guggenheim lifted their price objective on shares of Guardant Health from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Evercore reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Guardant Health in a report on Monday, July 6th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Guardant Health in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. ABS Investment Management LLC purchased a new stake in shares of Guardant Health in the 2nd quarter worth about $345,069,000. MCF Advisors LLC grew its stake in Guardant Health by 755.0% in the 2nd quarter. MCF Advisors LLC now owns 171 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the last quarter. TrinityBridge Ltd purchased a new position in Guardant Health during the 2nd quarter valued at about $45,000. Global Retirement Partners LLC purchased a new position in Guardant Health during the 2nd quarter valued at about $59,000. Finally, EFG International AG purchased a new position in Guardant Health during the 2nd quarter valued at about $60,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

About Guardant Health

Guardant Health, Inc (NASDAQ: GH) is a precision oncology company that develops blood- and tissue-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients throughout the course of their disease. Its testing platforms analyze circulating tumor DNA and other genomic information to provide insights into a tumor’s molecular characteristics.

The company’s products include Guardant360 tests for comprehensive genomic profiling in advanced cancer, Guardant360 CDx, which is approved as a companion diagnostic for certain targeted therapies, and Guardant360 Response for assessing how a tumor may be responding to treatment.