Analysts Set Guardant Health, Inc. (NASDAQ:GH) Price Target at $40.60

Guardant Health, Inc. (NASDAQ:GH) has received an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $40.60.

A number of equities research analysts have issued reports on GH shares. 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 report on Thursday, November 7th. BTIG Research raised their target price on Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Craig Hallum upped their price target on Guardant Health from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. UBS Group lifted their price objective on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Sanford C. Bernstein cut their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th.

Insider Activity at Guardant Health

In other news, Director Meghan V. Joyce sold 2,896 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the sale, the director now directly owns 7,648 shares of the company’s stock, valued at $228,675.20. This represents a 27.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Guardant Health

Hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its stake in Guardant Health by 254.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 114,125 shares of the company’s stock valued at $2,354,000 after purchasing an additional 81,887 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Guardant Health by 2.7% during the first quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock valued at $235,925,000 after purchasing an additional 305,372 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Guardant Health in the 1st quarter worth about $75,000. First Light Asset Management LLC raised its position in Guardant Health by 31.7% in the 1st quarter. First Light Asset Management LLC now owns 189,765 shares of the company’s stock worth $3,915,000 after buying an additional 45,716 shares during the last quarter. Finally, Adalta Capital Management LLC lifted its stake in Guardant Health by 15.6% during the 1st quarter. Adalta Capital Management LLC now owns 71,023 shares of the company’s stock valued at $1,465,000 after acquiring an additional 9,565 shares during the period. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

NASDAQ:GH opened at $35.40 on Thursday. The company has a quick ratio of 5.85, a current ratio of 6.22 and a debt-to-equity ratio of 16.70. Guardant Health has a twelve month low of $15.81 and a twelve month high of $37.04. The company has a fifty day moving average of $24.22 and a 200-day moving average of $26.95. The firm has a market capitalization of $4.37 billion, a P/E ratio of -8.35 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last issued 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 firm had revenue of $191.48 million during the quarter, compared to the consensus estimate of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. Guardant Health’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.73) earnings per share. As a group, sell-side analysts anticipate that Guardant Health will post -3.38 EPS for the current year.

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.