Guardant Health (NASDAQ:GH) Stock Rating Upgraded by Rothschild & Co Redburn

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

Other equities research analysts have also issued research reports about the company. TD Cowen reaffirmed a “buy” rating on shares of Guardant Health in a research report on Tuesday, August 25th. Morgan Stanley upped their target price on shares of Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein raised their target price on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Canaccord Genuity Group lifted their price target on shares of Guardant Health from $135.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, UBS Group set a $150.00 price target on shares of Guardant Health in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $184.58.

Guardant Health Stock Down 0.3%

Guardant Health stock opened at $160.98 on Tuesday. Guardant Health has a 52-week low of $53.40 and a 52-week high of $176.58. The firm has a market cap of $21.60 billion, a PE ratio of -46.13 and a beta of 1.57. The company’s 50 day moving average is $160.27 and its two-hundred day moving average is $123.62.

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, topping analysts’ consensus estimates of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to analysts’ expectations of $314.23 million. The firm’s revenue was up 44.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.44) EPS. On average, equities research analysts anticipate that Guardant Health will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In related news, insider Terilyn J. Monroe sold 46,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the completion of the sale, the insider owned 22,979 shares in the company, valued at $3,794,292.48. The trade was a 66.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian T. Clark sold 14,180 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total value of $2,253,485.60. Following the completion of the transaction, the director directly owned 2,975 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 427,024 shares of company stock worth $67,113,285. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Guardant Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ABS Investment Management LLC acquired a new position in shares of Guardant Health in the 2nd quarter valued at $345,069,000. TrinityBridge Ltd acquired a new stake in Guardant Health during the 2nd quarter worth $45,000. Elyxium Wealth LLC purchased a new stake in Guardant Health in the fourth quarter valued at $35,000. Parallel Advisors LLC boosted its stake in Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 219 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Guardant Health in the second quarter valued at $59,000. 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.