Guardant Health (NASDAQ:GH) Price Target Raised to $49.00

Guardant Health (NASDAQ:GH) had its target price hoisted by The Goldman Sachs Group from $36.00 to $49.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Barclays started coverage on Guardant Health in a report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Guggenheim restated a “buy” rating on shares of Guardant Health in a report on Wednesday, January 22nd. Leerink Partners dropped 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, Sanford C. Bernstein cut their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Guardant Health presently has a consensus rating of “Buy” and a consensus target price of $42.63.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $49.94 on Tuesday. The firm has a market capitalization of $6.17 billion, a PE ratio of -11.78 and a beta of 1.28. The business has a 50 day simple moving average of $36.68 and a two-hundred day simple moving average of $30.06. Guardant Health has a 1 year low of $15.81 and a 1 year high of $50.89.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The business had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. During the same quarter in the previous year, the firm earned ($0.73) EPS. Guardant Health’s revenue was up 33.9% compared to the same quarter last year. Equities research analysts expect that Guardant Health will post -3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Meghan V. Joyce sold 2,896 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the transaction, the director now owns 7,648 shares in the company, valued at $228,675.20. This trade represents a 27.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $81,200.00. Following the sale, the director now directly owns 2,676 shares of the company’s stock, valued at approximately $93,660. This represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,548 shares of company stock valued at $179,782. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guardant Health

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Guardant Health by 188.6% in the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after buying an additional 6,618,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Guardant Health by 1,282.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock worth $28,128,000 after purchasing an additional 1,137,482 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Guardant Health by 233.5% during the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock worth $34,701,000 after purchasing an additional 1,059,104 shares during the period. Erste Asset Management GmbH purchased a new position in shares of Guardant Health during the 3rd quarter valued at approximately $21,389,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Guardant Health in the 3rd quarter valued at $15,624,000. 92.60% of the stock is 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.