Guardant Health, Inc. (NASDAQ:GH) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Guardant Health, Inc. (NASDAQ:GH) has earned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $188.54.

A number of equities analysts recently weighed in on the stock. BTIG Research reissued a “buy” rating and set a $195.00 target price on shares of Guardant Health in a research note on Wednesday, September 2nd. Bank of America upped their price target on shares of Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. increased their price target on Guardant Health from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Morgan Stanley increased their price target on Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Citigroup lifted their price objective on Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Alex M. Azar II sold 826 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $175.00, for a total value of $144,550.00. Following the transaction, the director directly owned 825 shares of the company’s stock, valued at approximately $144,375. The trade was a 50.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Darya Chudova sold 7,738 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $178.00, for a total value of $1,377,364.00. Following the transaction, the chief technology officer owned 70,635 shares in the company, valued at $12,573,030. The trade was a 9.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 178,755 shares of company stock valued at $30,040,636 over the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GH. Cim Investment Management Inc. acquired a new stake in Guardant Health in the second quarter worth $243,000. QRG Capital Management Inc. raised its holdings in shares of Guardant Health by 12.9% during the second quarter. QRG Capital Management Inc. now owns 2,858 shares of the company’s stock valued at $429,000 after purchasing an additional 326 shares during the period. Revere Asset Management Inc bought a new position in shares of Guardant Health during the 2nd quarter worth about $3,994,000. Sequoia Financial Advisors LLC bought a new position in shares of Guardant Health during the 2nd quarter worth about $216,000. Finally, First Light Asset Management LLC boosted its position in shares of Guardant Health by 57.5% during the 2nd quarter. First Light Asset Management LLC now owns 441,586 shares of the company’s stock worth $66,251,000 after purchasing an additional 161,287 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Price Performance

Guardant Health stock opened at $174.75 on Friday. The stock’s 50 day moving average is $165.01 and its 200 day moving average is $133.21. Guardant Health has a one year low of $60.45 and a one year high of $183.51. The firm has a market cap of $23.45 billion, a P/E ratio of -50.07 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last released its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.34. The firm had revenue of $334.98 million for the quarter, compared to analyst estimates of $314.23 million. The business’s revenue for the quarter 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. Equities analysts anticipate that Guardant Health will post -2.98 earnings per share for the current fiscal year.

Guardant Health Company Profile

Guardant Health, Inc (NASDAQ: GH) is a precision oncology company that develops blood- and tissue-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients throughout the course of their disease. Its testing platforms analyze circulating tumor DNA and other genomic information to provide insights into a tumor’s molecular characteristics.

The company’s products include Guardant360 tests for comprehensive genomic profiling in advanced cancer, Guardant360 CDx, which is approved as a companion diagnostic for certain targeted therapies, and Guardant360 Response for assessing how a tumor may be responding to treatment.