Guardant Health (NASDAQ:GH) Price Target Raised to $53.00

Guardant Health (NASDAQ:GH) had its price target hoisted by Stifel Nicolaus from $45.00 to $53.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

GH has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein dropped their target price on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Guardant Health from $36.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Guggenheim restated a “buy” rating on shares of Guardant Health in a research note on Wednesday, January 22nd. Finally, Barclays assumed coverage on Guardant Health in a report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price target for the company. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $44.78.

Guardant Health Stock Down 9.6 %

NASDAQ GH opened at $42.87 on Friday. The stock’s 50-day moving average price is $40.19 and its 200-day moving average price is $31.57. Guardant Health has a 52 week low of $15.81 and a 52 week high of $50.89. The company has a market capitalization of $5.30 billion, a P/E ratio of -12.04 and a beta of 1.32.

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

Insider Transactions at Guardant Health

In related news, Director Musa Tariq sold 2,320 shares of the company’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 transaction of $81,200.00. Following the sale, the director now directly owns 2,676 shares in the company, valued at approximately $93,660. This represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,768 shares of company stock worth $98,798 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Guardant Health

A number of large investors have recently made changes to their positions in GH. Vanguard Group Inc. increased its stake in Guardant Health by 3.0% in the fourth 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 last quarter. Wellington Management Group LLP increased its stake in Guardant Health by 188.6% in the third 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 last quarter. Deep Track Capital LP increased its stake in Guardant Health by 7.0% in the fourth 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 last quarter. Eventide Asset Management LLC increased its stake in Guardant Health by 2.0% in the third 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 last quarter. Finally, Geode Capital Management LLC increased its stake in Guardant Health by 1.1% in the third 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 last quarter. 92.60% of the stock is currently owned by hedge funds and other 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.