Bridgewater Associates LP Trims Stake in Guardant Health, Inc. (NASDAQ:GH)

Bridgewater Associates LP lowered its holdings in Guardant Health, Inc. (NASDAQ:GH) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,140 shares of the company’s stock after selling 2,061 shares during the period. Bridgewater Associates LP’s holdings in Guardant Health were worth $416,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised 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 during the period. ARK Investment Management LLC increased its holdings in shares of Guardant Health by 233.5% in the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock worth $34,701,000 after buying an additional 1,059,104 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Guardant Health by 31.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock valued at $36,973,000 after acquiring an additional 309,157 shares during the last quarter. Railway Pension Investments Ltd boosted its holdings in Guardant Health by 63.8% during the 2nd quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company’s stock valued at $17,931,000 after acquiring an additional 241,800 shares during the period. Finally, First Light Asset Management LLC grew its position in Guardant Health by 119.7% during the 2nd quarter. First Light Asset Management LLC now owns 416,967 shares of the company’s stock worth $12,042,000 after acquiring an additional 227,202 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

GH has been the subject of several recent analyst reports. TD Cowen upped their price objective 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. Craig Hallum increased their price objective on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group boosted their target price on Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein reduced their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Guardant Health Price Performance

GH stock opened at $35.52 on Tuesday. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. The firm has a 50 day moving average price of $25.21 and a 200-day moving average price of $27.37. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $37.04. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -8.38 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 the consensus estimate of ($0.55) by ($0.33). The firm had revenue of $191.48 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 33.9% on a year-over-year basis. During the same period last year, the firm posted ($0.73) earnings per share. Equities research analysts forecast that Guardant Health, Inc. will post -3.38 EPS for the current fiscal year.

Insider Activity

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 7,648 shares in the company, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

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.