Guardant Health (NASDAQ:GH) Hits New 52-Week High – Still a Buy?

Guardant Health, Inc. (NASDAQ:GH)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $39.29 and last traded at $38.89, with a volume of 133117 shares. The stock had previously closed at $38.10.

Analysts Set New Price Targets

Several equities analysts have weighed in on GH shares. JPMorgan Chase & Co. increased their target price on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein cut their price target on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Leerink Partners reduced their price objective on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group upped their target price on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Fifteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $40.60.

Guardant Health Trading Up 0.1 %

The stock has a fifty day moving average of $33.43 and a 200-day moving average of $28.84.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business had revenue of $191.48 million for the quarter, compared to analyst estimates of $170.49 million. During the same quarter in the previous year, the company posted ($0.73) EPS. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. On average, analysts anticipate that Guardant Health, Inc. will post -3.44 EPS for the current year.

Insider Transactions at Guardant Health

In related news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the transaction, the director now owns 2,676 shares in the company, valued at approximately $93,660. This trade represents 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. Also, Director Meghan V. Joyce sold 2,896 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the sale, the director now owns 7,648 shares in the company, valued at $228,675.20. This represents a 27.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,432 shares of company stock worth $175,423 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Several institutional investors and hedge funds have recently modified their holdings of GH. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 worth $102,000 after acquiring an additional 796 shares during the last quarter. Fiduciary Alliance LLC raised its holdings in Guardant Health by 7.6% in the 4th quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock valued at $363,000 after acquiring an additional 836 shares in the last quarter. JNBA Financial Advisors bought a new stake in shares of Guardant Health during the 3rd quarter valued at $26,000. Wexford Capital LP lifted its position in shares of Guardant Health by 13.0% during the 3rd quarter. Wexford Capital LP now owns 10,081 shares of the company’s stock valued at $231,000 after acquiring an additional 1,158 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Guardant Health during the 3rd quarter worth $34,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.