Guardant Health, Inc. (NASDAQ:GH) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its position in Guardant Health, Inc. (NASDAQ:GH) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 58,672 shares of the company’s stock after selling 4,428 shares during the quarter. Corebridge Financial Inc.’s holdings in Guardant Health were worth $1,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new position in shares of Guardant Health in the 3rd quarter worth approximately $15,624,000. Guyasuta Investment Advisors Inc. bought a new stake in Guardant Health during the fourth quarter worth approximately $206,000. Geode Capital Management LLC grew its position in Guardant Health by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after buying an additional 29,686 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Guardant Health in the fourth quarter valued at $377,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Guardant Health during the 4th quarter valued at $2,211,000. 92.60% of the stock is owned by institutional investors.

Guardant Health Stock Performance

Shares of GH opened at $43.49 on Thursday. The firm has a market cap of $5.37 billion, a PE ratio of -12.22 and a beta of 1.50. The firm’s 50 day moving average price is $44.65 and its 200 day moving average price is $34.66. Guardant Health, Inc. has a twelve month low of $15.81 and a twelve month high of $50.89.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The business had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. On average, sell-side analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GH. JPMorgan Chase & Co. lifted their target price on Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Stephens reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Guardant Health in a research note on Wednesday, March 26th. The Goldman Sachs Group lifted their target price on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays assumed coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price target for the company. Finally, Raymond James reiterated an “outperform” rating and set a $59.00 price objective (up from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. Twenty investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.95.

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.