Guardant Health, Inc. $GH Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Guardant Health, Inc. (NASDAQ:GH) by 1,344.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,303 shares of the company’s stock after purchasing an additional 55,198 shares during the period. Fifth Third Bancorp’s holdings in Guardant Health were worth $5,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GH. V Square Quantitative Management LLC acquired a new stake in shares of Guardant Health during the 4th quarter worth about $27,000. Chesapeake Asset Management LLC purchased a new position in Guardant Health during the fourth quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Guardant Health during the fourth quarter valued at about $31,000. Elyxium Wealth LLC acquired a new stake in shares of Guardant Health during the fourth quarter valued at about $35,000. Finally, Parallel Advisors LLC increased its position in shares of Guardant Health by 164.7% during the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 219 shares during the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the sale, the chief executive officer owned 2,012,919 shares of the company’s stock, valued at $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Myrtle S. Potter sold 1,556 shares of Guardant Health stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total transaction of $204,084.96. Following the completion of the transaction, the director owned 20,971 shares of the company’s stock, valued at $2,750,556.36. This represents a 6.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 708,565 shares of company stock valued at $90,556,597. 5.60% of the stock is owned by corporate insiders.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $155.87 on Friday. The company has a market cap of $20.67 billion, a price-to-earnings ratio of -45.98 and a beta of 1.59. The stock’s 50-day moving average is $134.21 and its two-hundred day moving average is $110.26. Guardant Health, Inc. has a 1-year low of $40.35 and a 1-year high of $174.08.

Analyst Ratings Changes

Several equities analysts have recently commented on GH shares. Bank of America upped their price objective on shares of Guardant Health from $135.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Sanford C. Bernstein boosted their target price on Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Wolfe Research assumed coverage on Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price target on the stock. Guggenheim raised their price target on Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley boosted their price objective on Guardant Health from $130.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and a consensus price target of $160.04.

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.