Eventide Asset Management LLC Boosts Holdings in Guardant Health, Inc. (NASDAQ:GH)

Eventide Asset Management LLC grew its position in Guardant Health, Inc. (NASDAQ:GH) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,837,300 shares of the company’s stock after purchasing an additional 76,762 shares during the period. Guardant Health comprises about 1.5% of Eventide Asset Management LLC’s investment portfolio, making the stock its 14th largest holding. Eventide Asset Management LLC’s holdings in Guardant Health were worth $88,028,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JNBA Financial Advisors purchased a new stake in shares of Guardant Health during the third quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in Guardant Health during the 3rd quarter valued at about $34,000. Quarry LP purchased a new stake in Guardant Health in the 2nd quarter valued at about $44,000. Canton Hathaway LLC purchased a new stake in Guardant Health in the 2nd quarter valued at about $59,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Guardant Health in the 2nd quarter worth about $71,000. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Up 2.1 %

Shares of NASDAQ:GH opened at $35.10 on Friday. The firm’s 50-day moving average is $25.00 and its two-hundred day moving average is $27.26. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.22 and a quick ratio of 5.85. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $37.04. The firm has a market capitalization of $4.34 billion, a PE ratio of -8.28 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last released its earnings results 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). The company had revenue of $191.48 million during the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.73) earnings per share. Analysts predict that Guardant Health, Inc. will post -3.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GH. TD Cowen lifted their price target on shares of Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Piper Sandler lifted their target price on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Citigroup increased their price target on Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Leerink Partners cut their price target on 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 price objective on shares of Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Guardant Health presently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Insiders Place Their Bets

In other news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the sale, the director now owns 7,648 shares in the company, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is owned by company insiders.

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.