Guardant Health (NASDAQ:GH) Hits New 1-Year High – Time to Buy?

Shares of Guardant Health, Inc. (NASDAQ:GH) reached a new 52-week high during trading on Thursday . The stock traded as high as $50.78 and last traded at $49.39, with a volume of 258542 shares changing hands. The stock had previously closed at $47.65.

Analysts Set New Price Targets

Several research analysts recently weighed in on GH shares. JPMorgan Chase & Co. increased their price objective on Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Leerink Partners cut their price objective on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. The Goldman Sachs Group upped their target price on shares of Guardant Health from $36.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays started coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price target for the company. Finally, Sanford C. Bernstein decreased 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, the stock currently has a consensus rating of “Buy” and an average target price of $42.63.

Guardant Health Stock Down 5.9 %

The firm has a 50 day moving average price of $36.97 and a 200-day moving average price of $30.17.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $191.48 million during the quarter, compared to analysts’ expectations of $170.49 million. During the same quarter in the previous year, the business posted ($0.73) EPS. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. Analysts anticipate that Guardant Health, Inc. will post -3.43 EPS for the current year.

Insiders Place Their Bets

In other news, Director Musa Tariq sold 2,320 shares of the firm’s 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 sale, the director now owns 2,676 shares of the company’s stock, valued at approximately $93,660. This trade represents a 46.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the director now directly owns 7,648 shares of the company’s stock, valued at $228,675.20. This trade represents a 27.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,548 shares of company stock worth $179,782 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GH. D.A. Davidson & CO. lifted its stake in Guardant Health by 72.1% in the fourth quarter. D.A. Davidson & CO. now owns 42,380 shares of the company’s stock valued at $1,295,000 after buying an additional 17,755 shares during the last quarter. Guyasuta Investment Advisors Inc. acquired a new position in shares of Guardant Health in the 4th quarter valued at $206,000. Rhumbline Advisers boosted its stake in Guardant Health by 2.2% during the 4th quarter. Rhumbline Advisers now owns 167,230 shares of the company’s stock worth $5,109,000 after purchasing an additional 3,529 shares during the period. Van ECK Associates Corp grew its position in Guardant Health by 47.4% during the 4th quarter. Van ECK Associates Corp now owns 2,887 shares of the company’s stock worth $88,000 after purchasing an additional 929 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in Guardant Health during the 4th quarter worth $377,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Company Profile

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.