Guardant Health, Inc. (NASDAQ:GH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Guardant Health, Inc. (NASDAQ:GH) has been assigned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $39.31.

GH has been the topic of several analyst reports. Craig Hallum increased their target price on shares of Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. TD Cowen increased their price objective on Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Citigroup boosted their target price on Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group increased their price target on Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Stephens restated an “overweight” rating and issued a $44.00 price objective on shares of Guardant Health in a research note on Friday, May 24th.

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently added to or reduced their stakes in GH. Quarry LP acquired a new position in Guardant Health in the second quarter worth $44,000. Canton Hathaway LLC acquired a new position in Guardant Health during the 2nd quarter worth about $59,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Guardant Health during the 2nd quarter worth about $71,000. Byrne Asset Management LLC bought a new stake in Guardant Health during the 2nd quarter worth about $77,000. Finally, Van ECK Associates Corp increased its position in Guardant Health by 29.4% in the 4th quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock valued at $73,000 after acquiring an additional 614 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Price Performance

NASDAQ GH opened at $26.79 on Friday. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -6.83 and a beta of 1.11. The company has a 50 day simple moving average of $29.23 and a 200-day simple moving average of $24.75. Guardant Health has a 52-week low of $15.81 and a 52-week high of $37.04.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). The company had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The company’s revenue was up 29.2% compared to the same quarter last year. During the same period last year, the company posted ($0.67) earnings per share. Equities research analysts predict that Guardant Health will post -3.3 earnings per share for the current fiscal year.

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.