Tidal Investments LLC Has $3.69 Million Position in Guardant Health, Inc. $GH

Tidal Investments LLC raised its position in Guardant Health, Inc. (NASDAQ:GH) by 43.7% in the 2nd quarter, Holdings Channel reports. The firm owned 24,593 shares of the company’s stock after buying an additional 7,473 shares during the period. Tidal Investments LLC’s holdings in Guardant Health were worth $3,690,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in Guardant Health by 16,079.2% during the 2nd quarter. California State Teachers Retirement System now owns 21,129,925 shares of the company’s stock worth $3,170,123,000 after buying an additional 20,999,326 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Guardant Health in the second quarter valued at approximately $208,592,000. William Blair Investment Management LLC bought a new stake in shares of Guardant Health during the second quarter worth $196,737,000. Norges Bank bought a new stake in shares of Guardant Health during the fourth quarter worth $128,499,000. Finally, Summit Partners Public Asset Management LLC raised its holdings in shares of Guardant Health by 674.5% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after acquiring an additional 741,958 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Trading Up 6.6%

Shares of GH opened at $167.84 on Tuesday. The company has a market cap of $22.52 billion, a price-to-earnings ratio of -48.09 and a beta of 1.57. Guardant Health, Inc. has a 1-year low of $53.40 and a 1-year high of $176.58. The company’s fifty day simple moving average is $159.70 and its 200 day simple moving average is $125.37.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates 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. The business’s revenue was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.44) EPS. As a group, research analysts forecast that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Insider Transactions at Guardant Health

In other Guardant Health news, insider Terilyn Monroe sold 46,300 shares of the company’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 value of $7,645,056.00. Following the sale, the insider owned 22,979 shares in the company, valued at $3,794,292.48. This represents a 66.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Freeman sold 63,605 shares of Guardant Health stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $169.58, for a total value of $10,786,135.90. Following the transaction, the insider owned 65,374 shares of the company’s stock, valued at $11,086,122.92. This represents a 49.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 426,908 shares of company stock valued at $67,098,183. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GH. JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Sanford C. Bernstein reissued an “outperform” rating and issued a $210.00 price target on shares of Guardant Health in a research note on Thursday. Piper Sandler boosted their price target on Guardant Health from $135.00 to $193.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Stephens upped their price objective on Guardant Health from $170.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley raised their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and a consensus price target of $188.12.

Guardant Health Company Profile

Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company’s products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.