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

New York Life Investment Management LLC acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 11,016 shares of the company’s stock, valued at approximately $1,125,000.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Guardant Health in the 4th quarter valued at $27,000. Chesapeake Asset Management LLC bought a new position in Guardant Health in the 4th quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Guardant Health in the 4th quarter valued at $31,000. First Pacific Financial bought a new position in Guardant Health in the 4th quarter valued at $43,000. Finally, Optiver Holding B.V. boosted its position in Guardant Health by 153.5% in the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock valued at $48,000 after buying an additional 465 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Up 2.6%

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

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The firm had revenue of $281.27 million during the quarter, compared to analyst estimates of $269.74 million. During the same quarter in the prior year, the company earned ($0.62) EPS. The firm’s revenue was up 39.4% compared to the same quarter last year. As a group, equities research analysts expect that Guardant Health, Inc. will post -2.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GH shares. JPMorgan Chase & Co. raised their target price on shares of Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Canaccord Genuity Group raised their target price on shares of Guardant Health from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Stifel Nicolaus raised their target price on shares of Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $135.00 target price on shares of Guardant Health in a research note on Tuesday, May 12th. Finally, BTIG Research raised their target price on shares of Guardant Health from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Nineteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and an average price target of $129.42.

Insider Buying and Selling at Guardant Health

In related news, CFO Michael Brian Bell sold 3,000 shares of Guardant Health stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $87.04, for a total transaction of $261,120.00. Following the transaction, the chief financial officer owned 43,601 shares of the company’s stock, valued at $3,795,031.04. This trade represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Medina Manuel Hidalgo sold 1,300 shares of Guardant Health stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $91.54, for a total transaction of $119,002.00. Following the transaction, the director directly owned 1,193 shares in the company, valued at $109,207.22. The trade was a 52.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,712 shares of company stock worth $5,802,899 over the last ninety days. 5.60% of the stock is owned by corporate insiders.

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.