Kimelman & Baird LLC Acquires New Stake in Guardant Health, Inc. (NASDAQ:GH)

Kimelman & Baird LLC acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,900 shares of the company’s stock, valued at approximately $58,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position 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 purchasing an additional 6,618,785 shares in the last quarter. Eventide Asset Management LLC boosted its position in shares of Guardant Health by 2.0% during the 3rd quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock worth $88,028,000 after purchasing an additional 76,762 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Guardant Health by 1.1% during the 3rd 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Guardant Health by 19.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company’s stock worth $44,732,000 after purchasing an additional 238,037 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Guardant Health by 52.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,177,300 shares of the company’s stock worth $27,007,000 after purchasing an additional 406,500 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler boosted their target price on shares of Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Scotiabank lifted their price target on Guardant Health from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Guggenheim reaffirmed a “buy” rating and set a $56.00 price target on shares of Guardant Health in a research note on Monday, February 24th. Finally, Raymond James reaffirmed an “outperform” rating and set a $59.00 price target (up previously from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Twenty analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $48.40.

Guardant Health Stock Performance

Shares of NASDAQ:GH opened at $42.89 on Monday. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $50.89. The stock has a market capitalization of $5.29 billion, a P/E ratio of -12.05 and a beta of 1.50. The stock has a 50-day simple moving average of $43.01 and a 200-day simple moving average of $32.94.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). The firm had revenue of $201.81 million for the quarter, compared to analysts’ expectations of $192.50 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. Analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Guardant Health 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.