Guardant Health (NASDAQ:GH) Given New $52.00 Price Target at Scotiabank

Guardant Health (NASDAQ:GH) had its price target hoisted by Scotiabank from $47.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Several other equities research analysts have also commented on GH. JPMorgan Chase & Co. increased their price objective on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday. Guggenheim reiterated a “buy” rating and issued a $56.00 price objective on shares of Guardant Health in a research note on Monday. Raymond James reiterated an “outperform” rating and issued a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a research note on Friday. Stifel Nicolaus increased their price objective on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. Finally, Canaccord Genuity Group increased their price objective on shares of Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Nineteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $47.37.

Guardant Health Price Performance

GH opened at $42.44 on Monday. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $50.89. The firm has a market capitalization of $5.24 billion, a PE ratio of -11.92 and a beta of 1.32. The company’s 50-day moving average is $40.32 and its 200 day moving average is $31.66.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. As a group, analysts expect that Guardant Health will post -2.9 EPS for the current year.

Insider Buying and Selling

In related news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares of the company’s stock, valued at approximately $93,660. This trade represents a 46.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 2,768 shares of company stock valued at $98,798. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Guardant Health by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company’s stock valued at $368,205,000 after purchasing an additional 350,606 shares during the period. Wellington Management Group LLP boosted its holdings in Guardant Health by 188.6% in the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock valued at $232,325,000 after purchasing an additional 6,618,785 shares during the period. Deep Track Capital LP boosted its holdings in Guardant Health by 7.0% in the 4th quarter. Deep Track Capital LP now owns 6,419,566 shares of the company’s stock valued at $196,118,000 after purchasing an additional 419,006 shares during the period. Eventide Asset Management LLC boosted its holdings in Guardant Health by 2.0% in the 3rd quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock valued at $88,028,000 after purchasing an additional 76,762 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Guardant Health by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock valued at $64,754,000 after purchasing an additional 29,686 shares during the period. 92.60% of the stock is owned by institutional investors.

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.