Guardant Health, Inc. (NASDAQ:GH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Guardant Health, Inc. (NASDAQ:GH) by 93.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,942 shares of the company’s stock after selling 212,273 shares during the quarter. Principal Financial Group Inc.’s holdings in Guardant Health were worth $460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GH. Vanguard Group Inc. boosted its stake in Guardant Health by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock worth $235,925,000 after purchasing an additional 305,372 shares during the period. Baillie Gifford & Co. boosted its position in shares of Guardant Health by 0.9% in the first quarter. Baillie Gifford & Co. now owns 6,232,104 shares of the company’s stock worth $128,568,000 after buying an additional 53,292 shares during the period. Capital International Investors grew its holdings in shares of Guardant Health by 36.7% during the fourth quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock valued at $108,249,000 after buying an additional 1,074,452 shares in the last quarter. Eventide Asset Management LLC raised its position in Guardant Health by 8.3% during the fourth quarter. Eventide Asset Management LLC now owns 3,888,146 shares of the company’s stock valued at $105,174,000 after buying an additional 298,616 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Guardant Health by 31.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock worth $36,973,000 after acquiring an additional 309,157 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GH has been the topic of several research reports. BTIG Research upped their price objective on shares of Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on Guardant Health from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. UBS Group boosted their target price on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler raised their price target on Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, Canaccord Genuity Group boosted their price target on Guardant Health from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.31.

Guardant Health Trading Up 4.7 %

Guardant Health stock opened at $26.79 on Friday. The business has a 50 day moving average price of $29.20 and a two-hundred day moving average price of $24.84. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. Guardant Health, Inc. has a 12 month low of $15.81 and a 12 month high of $37.04. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -6.83 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The business had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. During the same quarter in the prior year, the company posted ($0.67) EPS. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, equities analysts forecast that Guardant Health, Inc. will post -3.3 EPS for the current year.

Guardant Health Company 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.