Principal Financial Group Inc. Has $308,000 Stake in Guardant Health, Inc. (NASDAQ:GH)

Principal Financial Group Inc. lowered its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 8.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,086 shares of the company’s stock after selling 880 shares during the period. Principal Financial Group Inc.’s holdings in Guardant Health were worth $308,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GH. Wellington Management Group LLP lifted its position in shares of Guardant Health by 188.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after buying an additional 6,618,785 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Guardant Health by 1,282.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock worth $28,128,000 after buying an additional 1,137,482 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Guardant Health by 233.5% during the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock worth $34,701,000 after buying an additional 1,059,104 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Guardant Health in the 3rd quarter worth approximately $21,389,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Guardant Health in the 3rd quarter worth approximately $15,624,000. Institutional investors own 92.60% of the company’s stock.

Guardant Health Price Performance

GH opened at $39.32 on Friday. The company has a fifty day moving average price of $41.88 and a 200-day moving average price of $32.32. The firm has a market capitalization of $4.85 billion, a P/E ratio of -11.04 and a beta of 1.50. Guardant Health, Inc. has a one year low of $15.81 and a one year high of $50.89.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Raymond James reaffirmed an “outperform” rating and issued a $59.00 price target (up previously from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Morgan Stanley lifted their price target on shares of Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus lifted their price target on shares of Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Piper Sandler lifted their price target on shares of Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Twenty investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Guardant Health presently has a consensus rating of “Buy” and a consensus price target of $48.40.

Insider Buying and Selling

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the business’s stock in a transaction 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 sale, the director now directly owns 2,676 shares of the company’s stock, valued at $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 2,668 shares of company stock worth $95,208. Corporate insiders own 5.50% of the company’s stock.

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.