Eagle Health Investments LP Takes Position in Guardant Health, Inc. $GH

Eagle Health Investments LP purchased a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 300,685 shares of the company’s stock, valued at approximately $45,112,000. Guardant Health makes up about 7.5% of Eagle Health Investments LP’s portfolio, making the stock its 3rd largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GH. Wealthfront Advisers LLC purchased a new stake in Guardant Health during the 2nd quarter valued at $458,000. Alpine Woods Capital Investors LLC bought a new stake in Guardant Health in the 2nd quarter worth about $237,000. Deutsche Bank AG purchased a new position in shares of Guardant Health during the second quarter valued at approximately $24,385,000. Perigon Wealth Management LLC purchased a new stake in Guardant Health during the 2nd quarter valued at $1,073,000. Finally, Persistent Asset Partners Ltd purchased a new stake in Guardant Health during the second quarter valued at $641,000. 92.60% of the stock is owned by institutional investors.

Guardant Health Trading Up 2.0%

NASDAQ:GH opened at $163.34 on Thursday. The stock has a 50-day moving average price of $152.39 and a 200 day moving average price of $117.95. The stock has a market capitalization of $21.92 billion, a P/E ratio of -46.80 and a beta of 1.60. Guardant Health, Inc. has a 12-month low of $53.40 and a 12-month high of $176.58.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analysts’ expectations of $314.23 million. During the same period in the prior year, the firm posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 44.3% on a year-over-year basis. On average, research analysts predict that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GH shares. Barclays increased their price target on shares of Guardant Health from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. TD Cowen lifted their price target on shares of Guardant Health from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 31st. Mizuho upped their price target on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Sanford C. Bernstein increased their price objective on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, Bank of America raised their price objective on shares of Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $183.78.

Insider Activity

In related news, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,012,919 shares of the company’s stock, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Terilyn J. Monroe sold 46,300 shares of Guardant Health stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the completion of the sale, the insider owned 22,979 shares in the company, valued at approximately $3,794,292.48. This represents a 66.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 546,224 shares of company stock valued at $80,435,493 in the last quarter. Company insiders own 5.60% of the company’s stock.

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.