Corebridge Financial Inc. Reduces Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

Corebridge Financial Inc. lessened its stake in Guardant Health, Inc. (NASDAQ:GH) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,672 shares of the company’s stock after selling 4,428 shares during the quarter. Corebridge Financial Inc.’s holdings in Guardant Health were worth $1,792,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Guardant Health by 3.0% during 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 in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Guardant Health during the fourth quarter valued at about $369,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Guardant Health during the fourth quarter worth about $758,000. Quantbot Technologies LP acquired a new position in shares of Guardant Health in the fourth quarter worth about $80,000. Finally, Summit Global Investments purchased a new position in Guardant Health in the fourth quarter valued at about $630,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GH. Barclays began coverage on Guardant Health in a report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price objective on the stock. Stifel Nicolaus upped their price target on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday, February 21st. Canaccord Genuity Group raised their price objective on shares of Guardant Health from $42.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Guggenheim restated a “buy” rating and issued a $56.00 target price on shares of Guardant Health in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Twenty equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $48.95.

Guardant Health Stock Performance

Guardant Health stock opened at $43.49 on Thursday. Guardant Health, Inc. has a one year low of $15.81 and a one year high of $50.89. The company has a 50-day simple moving average of $44.65 and a 200-day simple moving average of $34.66. The firm has a market capitalization of $5.37 billion, a P/E ratio of -12.22 and a beta of 1.50.

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

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.