State of New Jersey Common Pension Fund D Lowers Stake in Guardant Health, Inc. (NASDAQ:GH)

State of New Jersey Common Pension Fund D lessened its holdings in Guardant Health, Inc. (NASDAQ:GH) by 48.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,286 shares of the company’s stock after selling 67,151 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Guardant Health worth $2,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ground Swell Capital LLC purchased a new stake in shares of Guardant Health in the second quarter worth $270,000. Pier Capital LLC bought a new position in Guardant Health in the 2nd quarter worth about $3,346,000. ClariVest Asset Management LLC purchased a new stake in Guardant Health during the 2nd quarter valued at about $451,000. Headlands Technologies LLC purchased a new stake in Guardant Health during the 2nd quarter valued at about $340,000. Finally, Arizona State Retirement System increased its stake in Guardant Health by 7.5% during the 2nd quarter. Arizona State Retirement System now owns 34,073 shares of the company’s stock valued at $984,000 after purchasing an additional 2,383 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on GH shares. Citigroup increased their target price on Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Guggenheim raised Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Friday, June 28th. Piper Sandler boosted their target price on Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Bank of America upped their target price on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, UBS Group lifted their price target on shares of Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.31.

Guardant Health Stock Performance

NASDAQ:GH opened at $25.09 on Friday. The stock has a 50-day moving average price of $28.84 and a 200 day moving average price of $25.01. The stock has a market capitalization of $3.07 billion, a P/E ratio of -6.40 and a beta of 1.11. Guardant Health, Inc. has a 12-month low of $15.81 and a 12-month high of $37.04. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH) last posted its earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The company had revenue of $177.24 million for the quarter, compared to analysts’ expectations of $162.59 million. Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The business’s revenue was up 29.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.67) earnings per share. Equities research analysts forecast that Guardant Health, Inc. will post -3.3 EPS for the current fiscal year.

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.