Vanguard Group Inc. Increases Stock Position in Guardant Health, Inc. (NASDAQ:GH)

Vanguard Group Inc. raised its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,130,654 shares of the company’s stock after buying an additional 180,424 shares during the period. Vanguard Group Inc. owned about 9.15% of Guardant Health worth $301,084,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in Guardant Health by 2.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 568,148 shares of the company’s stock valued at $16,840,000 after buying an additional 16,111 shares during the period. Norges Bank bought a new position in Guardant Health in the 4th quarter worth $25,520,000. Wellington Management Group LLP raised its holdings in Guardant Health by 24.1% in the 4th quarter. Wellington Management Group LLP now owns 834,084 shares of the company’s stock worth $22,562,000 after purchasing an additional 161,986 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Guardant Health by 151.0% in the 4th quarter. Hsbc Holdings PLC now owns 43,532 shares of the company’s stock worth $1,182,000 after purchasing an additional 26,191 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Guardant Health by 27.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 14,793 shares of the company’s stock worth $400,000 after purchasing an additional 3,218 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Down 0.6 %

NASDAQ:GH opened at $28.88 on Friday. The firm has a market cap of $3.53 billion, a P/E ratio of -7.37 and a beta of 1.15. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.66 and a current ratio of 5.95. Guardant Health, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $41.06. The firm has a 50-day simple moving average of $24.98 and a two-hundred day simple moving average of $22.98.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.94) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.94). The business had revenue of $168.49 million during the quarter, compared to analyst estimates of $150.51 million. Guardant Health had a negative net margin of 76.34% and a negative return on equity of 246.47%. Analysts predict that Guardant Health, Inc. will post -3.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stephens restated an “overweight” rating and issued a $44.00 price objective on shares of Guardant Health in a report on Friday, May 24th. Craig Hallum assumed coverage on shares of Guardant Health in a report on Wednesday, April 24th. They issued a “buy” rating and a $28.00 price objective for the company. Canaccord Genuity Group upped their price objective on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Guggenheim upgraded shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Friday. Finally, Jefferies Financial Group initiated coverage on shares of Guardant Health in a research note on Monday, June 3rd. They issued a “buy” rating and a $32.00 price target for the company. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

Guardant Health Profile

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.