Guardant Health (NASDAQ:GH) Given New $36.00 Price Target at The Goldman Sachs Group

Guardant Health (NASDAQ:GH) had its price objective raised by analysts at The Goldman Sachs Group from $32.00 to $36.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 24.35% from the company’s current price.

A number of other analysts have also recently issued reports on the stock. TD Cowen increased their price objective 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. Leerink Partners decreased their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. UBS Group upped their price objective on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Sanford C. Bernstein decreased 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. Finally, BTIG Research upped their price target on Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and an average price target of $40.24.

Guardant Health Stock Performance

NASDAQ:GH traded up $3.66 on Thursday, hitting $28.95. The stock had a trading volume of 2,878,504 shares, compared to its average volume of 2,053,417. The business’s 50-day simple moving average is $23.02 and its two-hundred day simple moving average is $25.88. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of -7.08 and a beta of 1.11. Guardant Health has a 52-week low of $15.81 and a 52-week high of $37.04. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The business had revenue of $177.24 million during the quarter, compared to the consensus estimate of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The firm’s revenue was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.67) earnings per share. As a group, research analysts predict that Guardant Health will post -3.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Guardant Health by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock worth $235,925,000 after purchasing an additional 305,372 shares during the period. ARK Investment Management LLC increased its stake in shares of Guardant Health by 233.5% during the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after buying an additional 1,059,104 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Guardant Health by 31.8% in the second quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock valued at $36,973,000 after acquiring an additional 309,157 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Guardant Health by 1,282.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock worth $28,128,000 after acquiring an additional 1,137,482 shares during the period. Finally, Railway Pension Investments Ltd lifted its stake in Guardant Health by 63.8% in the second quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company’s stock worth $17,931,000 after acquiring an additional 241,800 shares during the period. 92.60% of the stock is currently owned by 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.