State of New Jersey Common Pension Fund D Acquires 2,894 Shares of Guardant Health, Inc. (NASDAQ:GH)

State of New Jersey Common Pension Fund D raised its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,180 shares of the company’s stock after buying an additional 2,894 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Guardant Health worth $1,702,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. JNBA Financial Advisors purchased a new position in shares of Guardant Health during the third quarter worth about $26,000. Quarry LP purchased a new position in Guardant Health in the 2nd quarter worth approximately $44,000. Canton Hathaway LLC bought a new position in shares of Guardant Health in the 2nd quarter worth $59,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health during the 2nd quarter valued at $71,000. Finally, EntryPoint Capital LLC purchased a new position in Guardant Health in the first quarter worth $75,000. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Price Performance

Shares of GH stock opened at $28.96 on Tuesday. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. The firm has a market cap of $3.58 billion, a P/E ratio of -6.83 and a beta of 1.11. The business’s 50 day moving average price is $23.78 and its 200-day moving average price is $26.60. Guardant Health, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $37.04.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $170.49 million. During the same period in the previous year, the firm posted ($0.73) EPS. The company’s revenue for the quarter was up 33.9% on a year-over-year basis. On average, equities research analysts anticipate that Guardant Health, Inc. will post -3.38 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on GH. Citigroup lifted their price target on Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. BTIG Research increased their price target on shares of Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group increased their target price on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, TD Cowen boosted their price target on shares of Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Guardant Health presently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Insider Transactions at Guardant Health

In related 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 transaction of $86,590.40. Following the sale, the director now owns 7,648 shares of the company’s stock, valued at $228,675.20. The trade was a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.