Braidwell LP Lowers Stock Position in Guardant Health, Inc. $GH

Braidwell LP lessened its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 99.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,850 shares of the company’s stock after selling 61,305,862 shares during the period. Braidwell LP’s holdings in Guardant Health were worth $22,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GH. Price T Rowe Associates Inc. MD increased its stake 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 worth $575,670,000 after acquiring an additional 1,414,441 shares in the last quarter. Franklin Resources Inc. boosted its stake in Guardant Health by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company’s stock worth $343,348,000 after acquiring an additional 435,232 shares in the last quarter. Geode Capital Management LLC boosted its stake in Guardant Health by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company’s stock worth $328,297,000 after acquiring an additional 277,001 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Guardant Health by 3.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,441,730 shares of the company’s stock worth $249,398,000 after purchasing an additional 72,162 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Guardant Health by 14.4% in the fourth quarter. Federated Hermes Inc. now owns 2,031,562 shares of the company’s stock worth $207,504,000 after purchasing an additional 255,193 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

NASDAQ:GH opened at $163.06 on Thursday. The firm has a market cap of $21.88 billion, a P/E ratio of -46.72 and a beta of 1.57. Guardant Health, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $176.58. The firm has a 50-day simple moving average of $159.29 and a two-hundred day simple moving average of $122.07.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to the consensus estimate of $314.23 million. During the same quarter in the prior year, the company posted ($0.44) EPS. The company’s quarterly revenue was up 44.3% on a year-over-year basis. On average, equities research analysts predict that Guardant Health, Inc. will post -2.98 EPS for the current year.

Insider Buying and Selling

In other Guardant Health news, Director Ian T. Clark sold 14,180 shares of the stock in a transaction on 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 sale, the director directly owned 2,975 shares in the company, valued at approximately $472,787. This trade represents a 82.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amirali Talasaz sold 143,028 shares of Guardant Health stock in a transaction on Monday, June 29th. The stock was sold at an average price of $151.54, for a total value of $21,674,463.12. Following the completion of the sale, the chief executive officer directly owned 1,881,336 shares of the company’s stock, valued at approximately $285,097,657.44. The trade was a 7.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 529,024 shares of company stock worth $80,000,525 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GH. Piper Sandler raised their target price on shares of Guardant Health from $135.00 to $193.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Morgan Stanley boosted their price target on Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Barclays upped their price target on Guardant Health from $150.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research report on Friday, July 17th. Finally, Guggenheim lifted their price objective on Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.78.

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.