Raymond James Reiterates Outperform Rating for Guardant Health (NASDAQ:GH)

Guardant Health (NASDAQ:GH)‘s stock had its “outperform” rating reaffirmed by analysts at Raymond James in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $59.00 price objective on the stock, up from their previous price objective of $39.00. Raymond James’ price objective suggests a potential upside of 37.63% from the company’s previous close.

Other analysts have also issued research reports about the stock. Barclays began coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 target price on the stock. Guggenheim restated a “buy” rating on shares of Guardant Health in a research report on Wednesday, January 22nd. Sanford C. Bernstein dropped their price target on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of Guardant Health from $36.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday. Eighteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $44.78.

Guardant Health Trading Down 9.6 %

NASDAQ GH opened at $42.87 on Friday. Guardant Health has a 1 year low of $15.81 and a 1 year high of $50.89. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of -12.04 and a beta of 1.32. The firm’s 50 day simple moving average is $40.19 and its 200 day simple moving average is $31.59.

Guardant Health (NASDAQ:GH) last issued 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 net margin of 59.05% and a negative return on equity of 19,157.20%. The company had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. On average, equities research analysts forecast that Guardant Health will post -2.9 earnings per share for the current year.

Insider Buying and Selling

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of Guardant Health 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 approximately $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 accessible through this hyperlink. Insiders sold 2,768 shares of company stock valued at $98,798 over the last quarter. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after purchasing an additional 230 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Guardant Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock valued at $377,000 after purchasing an additional 391 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Guardant Health by 1.1% during the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock valued at $1,089,000 after buying an additional 403 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock valued at $102,000 after buying an additional 796 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Guardant Health by 43.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock valued at $82,000 after buying an additional 817 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Company 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.