Guardant Health, Inc. (NASDAQ:GH) Stake Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 31.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,966 shares of the company’s stock after selling 4,976 shares during the quarter. Principal Financial Group Inc.’s holdings in Guardant Health were worth $252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JNBA Financial Advisors purchased a new position in shares of Guardant Health during the third quarter valued at $26,000. Quarry LP acquired a new stake in Guardant Health during the 2nd quarter worth about $44,000. Canton Hathaway LLC purchased a new position in Guardant Health during the 2nd quarter valued at about $59,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Guardant Health in the 2nd quarter valued at about $71,000. Finally, Byrne Asset Management LLC purchased a new stake in shares of Guardant Health in the second quarter worth approximately $77,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Trading Up 8.4 %

Shares of GH stock opened at $35.40 on Tuesday. The firm has a fifty day moving average of $24.22 and a 200-day moving average of $26.95. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -8.35 and a beta of 1.11. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $37.04. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company had revenue of $191.48 million during the quarter, compared to analyst estimates of $170.49 million. During the same period in the prior year, the firm earned ($0.73) EPS. Guardant Health’s quarterly revenue was up 33.9% compared to the same quarter last year. On average, equities research analysts forecast that Guardant Health, Inc. will post -3.38 earnings per share for the current fiscal year.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the transaction, the director now directly owns 7,648 shares of the company’s stock, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on GH. Piper Sandler upped 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. Citigroup raised their price objective on shares of Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Craig Hallum upped their price objective on shares of Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

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.