Pictet Asset Management Holding SA Reduces Stake in Guardant Health, Inc. (NASDAQ:GH)

Pictet Asset Management Holding SA lessened its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 593,516 shares of the company’s stock after selling 29,555 shares during the quarter. Pictet Asset Management Holding SA owned 0.48% of Guardant Health worth $18,132,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Guardant Health in the fourth quarter worth approximately $36,438,000. NEOS Investment Management LLC lifted its position in Guardant Health by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 36,120 shares of the company’s stock valued at $1,103,000 after purchasing an additional 3,553 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in Guardant Health during the fourth quarter valued at about $1,499,000. Ausdal Financial Partners Inc. purchased a new stake in Guardant Health in the fourth quarter worth about $214,000. Finally, Pier Capital LLC raised its stake in shares of Guardant Health by 45.4% in the fourth quarter. Pier Capital LLC now owns 230,280 shares of the company’s stock worth $7,035,000 after buying an additional 71,851 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Price Performance

NASDAQ:GH opened at $42.47 on Wednesday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of -11.93 and a beta of 1.50. The business has a 50 day simple moving average of $44.72 and a 200-day simple moving average of $34.60. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $50.89.

Guardant Health (NASDAQ:GH) last issued its quarterly 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). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The company had revenue of $201.81 million during the quarter, compared to the consensus estimate of $192.50 million. As a group, analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GH shares. The Goldman Sachs Group increased their target price on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Barclays began coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price objective for the company. Guggenheim reaffirmed a “buy” rating and issued a $56.00 target price on shares of Guardant Health in a report on Monday, February 24th. Stifel Nicolaus increased their price target on Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Piper Sandler boosted their price objective on Guardant Health from $34.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Twenty investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Guardant Health 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.