Guardant Health (NASDAQ:GH) CFO Sells $261,120.00 in Stock

Guardant Health, Inc. (NASDAQ:GH) CFO Michael Brian Bell sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $87.04, for a total value of $261,120.00. Following the transaction, the chief financial officer directly owned 43,601 shares in the company, valued at approximately $3,795,031.04. This represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Guardant Health Trading Up 2.1%

NASDAQ:GH opened at $89.08 on Friday. The stock’s 50 day simple moving average is $102.31 and its 200-day simple moving average is $90.30. Guardant Health, Inc. has a 12-month low of $36.36 and a 12-month high of $120.74. The firm has a market cap of $11.68 billion, a P/E ratio of -26.91 and a beta of 1.67.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The business had revenue of $281.27 million for the quarter, compared to the consensus estimate of $269.74 million. The business’s revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.62) EPS. Research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Institutional Trading of Guardant Health

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Guardant Health by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 12,160,768 shares of the company’s stock worth $1,242,101,000 after buying an additional 251,939 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Guardant Health by 33.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after acquiring an additional 1,414,441 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Guardant Health by 6.6% during the 3rd quarter. Baillie Gifford & Co. now owns 5,127,692 shares of the company’s stock valued at $320,378,000 after acquiring an additional 317,906 shares in the last quarter. Invesco Ltd. raised its position in Guardant Health by 27.3% during the second quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock worth $185,184,000 after acquiring an additional 763,834 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Guardant Health by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company’s stock worth $343,348,000 after acquiring an additional 435,232 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GH shares. Piper Sandler increased their target price on Guardant Health from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. Mizuho set a $135.00 price target on Guardant Health in a research note on Friday, January 9th. Citigroup upped their price objective on Guardant Health from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Guggenheim raised their target price on Guardant Health from $115.00 to $135.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Canaccord Genuity Group boosted their target price on shares of Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Twenty-one analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.57.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.