Pictet Asset Management Ltd. boosted its holdings in Guardant Health Inc (NASDAQ:GH) by 172.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,397 shares of the company’s stock after purchasing an additional 90,708 shares during the period. Pictet Asset Management Ltd. owned about 0.15% of Guardant Health worth $9,153,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of GH. Morgan Stanley raised its stake in shares of Guardant Health by 151.8% in the second quarter. Morgan Stanley now owns 4,814,366 shares of the company’s stock valued at $415,624,000 after buying an additional 2,902,471 shares during the period. Jennison Associates LLC raised its stake in shares of Guardant Health by 301.7% in the second quarter. Jennison Associates LLC now owns 2,753,535 shares of the company’s stock valued at $237,713,000 after buying an additional 2,068,098 shares during the period. Vanguard Group Inc. raised its stake in shares of Guardant Health by 151.1% in the second quarter. Vanguard Group Inc. now owns 2,893,820 shares of the company’s stock valued at $249,824,000 after buying an additional 1,741,472 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Guardant Health in the second quarter valued at $106,503,000. Finally, Coatue Management LLC bought a new stake in shares of Guardant Health in the second quarter valued at $103,251,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. ValuEngine lowered Guardant Health from a “buy” rating to a “hold” rating in a research note on Tuesday. Cowen set a $110.00 price objective on Guardant Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research upgraded Guardant Health from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on Guardant Health from $90.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, William Blair reiterated an “outperform” rating on shares of Guardant Health in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $107.60.
Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.25. Guardant Health had a negative return on equity of 11.70% and a negative net margin of 40.99%. The firm had revenue of $60.85 million during the quarter, compared to analysts’ expectations of $45.40 million. During the same period in the prior year, the business earned ($1.94) EPS. The company’s revenue for the quarter was up 180.4% compared to the same quarter last year. As a group, equities research analysts predict that Guardant Health Inc will post -0.88 earnings per share for the current fiscal year.
In related news, VP Timothy P. Eckersley sold 2,364 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $118.24, for a total transaction of $279,519.36. Also, major shareholder Vision Fund (Aiv M1) Softbank sold 4,900,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $77.00, for a total value of $377,300,000.00. Insiders sold a total of 5,024,854 shares of company stock valued at $386,916,261 over the last quarter. Company insiders own 13.00% of the company’s stock.
Guardant Health Profile
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.
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