The Goldman Sachs Group Increases Guardant Health (NASDAQ:GH) Price Target to $32.00

Guardant Health (NASDAQ:GH) had its price target increased by The Goldman Sachs Group from $28.00 to $32.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

GH has been the subject of a number of other research reports. Guggenheim upgraded Guardant Health from a neutral rating to a buy rating and set a $36.00 target price for the company in a research note on Friday, June 28th. Craig Hallum initiated coverage on Guardant Health in a research note on Wednesday, April 24th. They set a buy rating and a $28.00 price objective for the company. Canaccord Genuity Group raised their price objective on Guardant Health from $30.00 to $38.00 and gave the company a buy rating in a research note on Tuesday, June 4th. Jefferies Financial Group assumed coverage on Guardant Health in a research note on Monday, June 3rd. They set a buy rating and a $32.00 price objective for the company. Finally, Stephens reaffirmed an overweight rating and set a $44.00 target price on shares of Guardant Health in a report on Friday, May 24th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $37.38.

Guardant Health Price Performance

GH stock opened at $30.75 on Wednesday. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.66 and a current ratio of 5.95. Guardant Health has a 1 year low of $15.81 and a 1 year high of $41.06. The firm has a market cap of $3.76 billion, a P/E ratio of -7.84 and a beta of 1.13. The stock has a 50-day simple moving average of $28.35 and a 200-day simple moving average of $23.21.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, May 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.94). Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. The business had revenue of $168.49 million during the quarter, compared to analyst estimates of $150.51 million. On average, equities analysts predict that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Institutional Trading of Guardant Health

Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in Guardant Health by 29.4% in the 4th quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock valued at $73,000 after acquiring an additional 614 shares during the period. Principal Financial Group Inc. increased its position in shares of Guardant Health by 10.5% during the 4th quarter. Principal Financial Group Inc. now owns 13,045 shares of the company’s stock valued at $353,000 after purchasing an additional 1,240 shares during the period. Wealthcare Advisory Partners LLC increased its position in shares of Guardant Health by 17.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 8,596 shares of the company’s stock valued at $233,000 after purchasing an additional 1,308 shares during the period. Oak Ridge Investments LLC increased its position in shares of Guardant Health by 8.5% during the 1st quarter. Oak Ridge Investments LLC now owns 18,540 shares of the company’s stock valued at $382,000 after purchasing an additional 1,451 shares during the period. Finally, Headlands Technologies LLC increased its position in shares of Guardant Health by 362.3% during the 4th quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock valued at $64,000 after purchasing an additional 1,844 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.