Sumitomo Mitsui Trust Group Inc. Sells 156,738 Shares of Guardant Health, Inc. $GH

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 24.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 483,767 shares of the company’s stock after selling 156,738 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Guardant Health were worth $44,686,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GH. Vanguard Group Inc. increased its position in shares of Guardant Health by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 12,160,768 shares of the company’s stock worth $1,242,101,000 after purchasing an additional 251,939 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Guardant Health by 33.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after buying an additional 1,414,441 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Guardant Health by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company’s stock valued at $343,348,000 after buying an additional 435,232 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Guardant Health by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company’s stock valued at $328,297,000 after buying an additional 277,001 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in Guardant Health by 3.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,441,730 shares of the company’s stock worth $249,398,000 after buying an additional 72,162 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $160.05 on Monday. The company has a market capitalization of $21.22 billion, a P/E ratio of -47.21 and a beta of 1.59. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $174.08. The business’s 50 day simple moving average is $127.50 and its 200 day simple moving average is $108.35.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the transaction, the chief executive officer directly owned 2,012,919 shares of the company’s stock, valued at $254,231,669.70. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meghan V. Joyce sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $126.98, for a total transaction of $1,269,800.00. Following the sale, the director directly owned 11,183 shares of the company’s stock, valued at approximately $1,420,017.34. This trade represents a 47.21% 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. Over the last quarter, insiders sold 708,681 shares of company stock worth $90,566,438. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wolfe Research began coverage on shares of Guardant Health in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price target on the stock. Guggenheim boosted their price objective on shares of Guardant Health from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Morgan Stanley upped their target price on shares of Guardant Health from $130.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Guardant Health in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group assumed coverage on Guardant Health in a report on Friday, June 5th. They set a “buy” rating and a $165.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.70.

Guardant Health Company Profile

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.