Truist Financial Corp Invests $233,000 in Guardant Health, Inc. (NASDAQ:GH)

Truist Financial Corp bought a new stake in Guardant Health, Inc. (NASDAQ:GH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,073 shares of the company’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP acquired a new position in Guardant Health during the second quarter worth $44,000. Creative Planning bought a new position in shares of Guardant Health in the 2nd quarter valued at about $593,000. Algert Global LLC increased its stake in shares of Guardant Health by 23.2% during the 2nd quarter. Algert Global LLC now owns 90,220 shares of the company’s stock worth $2,606,000 after purchasing an additional 17,000 shares during the last quarter. Scientech Research LLC bought a new stake in shares of Guardant Health in the 2nd quarter valued at about $1,705,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Guardant Health in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

GH has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Guggenheim raised Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Friday, June 28th. Leerink Partners cut their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday. BTIG Research lifted their price objective on shares of Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler increased their price objective on shares of Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.31.

Guardant Health Stock Performance

Guardant Health stock opened at $21.38 on Friday. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. The stock has a market cap of $2.62 billion, a PE ratio of -5.45 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 business’s 50-day moving average price is $24.60 and its two-hundred day moving average price is $25.47.

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 analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The company had revenue of $177.24 million for the quarter, compared to the consensus estimate of $162.59 million. During the same period in the previous year, the firm posted ($0.67) EPS. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, analysts expect that Guardant Health, Inc. will post -3.31 earnings per share for the current fiscal year.

About Guardant Health

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.