Cerity Partners LLC Grows Stake in Guardant Health, Inc. (NASDAQ:GH)

Cerity Partners LLC increased its holdings in Guardant Health, Inc. (NASDAQ:GH) by 54.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,008 shares of the company’s stock after purchasing an additional 68,883 shares during the period. Cerity Partners LLC’s holdings in Guardant Health were worth $4,473,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Landscape Capital Management L.L.C. purchased a new stake in Guardant Health in the 3rd quarter worth $721,000. Intech Investment Management LLC purchased a new stake in shares of Guardant Health in the third quarter worth about $754,000. LMR Partners LLP purchased a new stake in shares of Guardant Health in the third quarter worth about $229,000. Aigen Investment Management LP grew its holdings in Guardant Health by 23.9% during the 3rd quarter. Aigen Investment Management LP now owns 19,103 shares of the company’s stock valued at $438,000 after buying an additional 3,683 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake 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 acquiring an additional 1,137,482 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following 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 sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GH shares. TD Cowen increased their target price on Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Piper Sandler lifted their price objective on shares of Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Citigroup increased their price target on shares of Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 8th. UBS Group boosted their price objective on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. raised their price objective on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Guardant Health Price Performance

Guardant Health stock opened at $35.10 on Friday. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.22 and a quick ratio of 5.85. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -8.28 and a beta of 1.11. The firm has a 50-day moving average of $24.81 and a two-hundred day moving average of $27.20. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $37.04.

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). 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%. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period last year, the company earned ($0.73) EPS. On average, research analysts forecast that Guardant Health, Inc. will post -3.38 earnings per share 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.