Guardant Health (NASDAQ:GH) Earns Overweight Rating from Analysts at Barclays

Barclays began coverage on shares of Guardant Health (NASDAQ:GH) in a research report released on Thursday, Marketbeat reports. The brokerage issued an overweight rating and a $60.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the company. Guggenheim reiterated a “buy” rating on shares of Guardant Health in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price target on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Leerink Partners lowered their price objective on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Sanford C. Bernstein reduced their target price on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Guardant Health currently has a consensus rating of “Buy” and a consensus target price of $41.81.

Guardant Health Price Performance

Shares of GH opened at $48.60 on Thursday. Guardant Health has a 1-year low of $15.81 and a 1-year high of $49.86. The company has a market capitalization of $6.01 billion, a P/E ratio of -11.46 and a beta of 1.28. The firm’s 50 day simple moving average is $34.89 and its 200 day simple moving average is $29.39.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. During the same quarter last year, the business posted ($0.73) EPS. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. On average, equities analysts anticipate that Guardant Health will post -3.44 earnings per share for the current year.

Insider Buying and Selling

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the transaction, the director now directly owns 7,648 shares in the company, valued at approximately $228,675.20. This represents a 27.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the sale, the director now directly owns 2,676 shares in the company, valued at $93,660. The trade was a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,548 shares of company stock valued at $179,782 over the last ninety days. 5.50% of the stock is owned by insiders.

Institutional Trading of Guardant Health

Several institutional investors and hedge funds have recently bought and sold shares of GH. Wellington Management Group LLP grew its holdings in shares of Guardant Health by 188.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after acquiring an additional 6,618,785 shares during the period. Eventide Asset Management LLC boosted its position in shares of Guardant Health by 2.0% during the third quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock valued at $88,028,000 after purchasing an additional 76,762 shares in the last quarter. Geode Capital Management LLC grew its stake 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 purchasing an additional 29,686 shares during the period. ARK Investment Management LLC grew its stake in 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 purchasing an additional 1,059,104 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Guardant Health by 1,282.5% in the third 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 in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.