Hood River Capital Management LLC Takes Position in Guardant Health, Inc. (NASDAQ:GH)

Hood River Capital Management LLC bought a new position in Guardant Health, Inc. (NASDAQ:GH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 146,726 shares of the company’s stock, valued at approximately $4,237,000. Hood River Capital Management LLC owned about 0.12% of Guardant Health as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. 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. grew its holdings in shares of Guardant Health by 0.9% during the first quarter. Baillie Gifford & Co. now owns 6,232,104 shares of the company’s stock valued at $128,568,000 after buying an additional 53,292 shares in the last quarter. Capital International Investors raised its position in 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 during the period. Eventide Asset Management LLC lifted its stake in Guardant Health by 8.3% in the 4th quarter. Eventide Asset Management LLC now owns 3,888,146 shares of the company’s stock worth $105,174,000 after acquiring an additional 298,616 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Guardant Health by 31.8% during 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 during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Trading Down 6.4 %

NASDAQ:GH opened at $23.49 on Tuesday. The company’s 50 day moving average is $28.68 and its 200-day moving average is $25.13. 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 firm has a market cap of $2.87 billion, a price-to-earnings ratio of -5.99 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GH. UBS Group increased their price target on shares of Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Guggenheim upgraded shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Friday, June 28th. BTIG Research boosted their price target on shares of Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Bank of America increased their price objective on Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Citigroup boosted 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. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and an average price target of $39.31.

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.