Guardant Health, Inc. $GH Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in Guardant Health, Inc. (NASDAQ:GH) by 8.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 95,796 shares of the company’s stock after selling 8,906 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Guardant Health were worth $17,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GH. The Manufacturers Life Insurance Company purchased a new stake in Guardant Health in the second quarter worth about $208,592,000. William Blair Investment Management LLC bought a new position in shares of Guardant Health during the second quarter valued at approximately $196,737,000. Orbimed Advisors LLC bought a new position in shares of Guardant Health during the first quarter valued at approximately $40,199,000. Eagle Health Investments LP bought a new stake in shares of Guardant Health in the 2nd quarter worth approximately $45,112,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Guardant Health during the 2nd quarter valued at approximately $32,316,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Activity

In other news, Director Alex Azar, II sold 826 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $175.00, for a total value of $144,550.00. Following the completion of the sale, the director directly owned 825 shares of the company’s stock, valued at $144,375. This represents a 50.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amirali Talasaz sold 37,500 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $169.16, for a total transaction of $6,343,500.00. Following the completion of the transaction, the chief executive officer directly owned 37,500 shares of the company’s stock, valued at $6,343,500. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,155 shares of company stock worth $9,107,025 in the last quarter. 5.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays upped their price target on shares of Guardant Health from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Roth Capital assumed coverage on Guardant Health in a research note on Thursday, October 22nd. They set a “buy” rating and a $200.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Guardant Health from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Morgan Stanley upped their price target on Guardant Health from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Finally, Rothschild & Co Redburn started coverage on shares of Guardant Health in a research note on Tuesday, September 8th. They issued a “buy” rating and a $203.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.88.

Guardant Health Stock Up 0.1%

NASDAQ GH opened at $154.86 on Friday. Guardant Health, Inc. has a 52 week low of $74.55 and a 52 week high of $191.05. The firm has a market capitalization of $20.95 billion, a P/E ratio of -42.08 and a beta of 1.67. The company has a 50-day moving average price of $168.83 and a 200-day moving average price of $132.81.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.46. The business had revenue of $360.98 million for the quarter, compared to the consensus estimate of $350.72 million. During the same quarter last year, the firm posted ($0.74) earnings per share. The business’s quarterly revenue was up 36.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Guardant Health, Inc. will post -3.08 EPS for the current year.

Guardant Health Profile

Guardant Health is a precision oncology company that develops blood- and tissue-based tests to help guide cancer care. Founded in 2012 by Helmy Eltoukhy and AmirAli Talasaz, the company focuses on using genomic information to support cancer detection, treatment selection and disease monitoring. Its products include Guardant360 tests, which analyze tumor-related genetic changes to help inform treatment decisions, and Guardant Reveal, which is designed to detect residual or recurring cancer after treatment.