Engineers Gate Manager LP Increases Stake in Guardant Health, Inc. $GH

Engineers Gate Manager LP increased its stake in Guardant Health, Inc. (NASDAQ:GH) by 20.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,180 shares of the company’s stock after purchasing an additional 14,179 shares during the period. Engineers Gate Manager LP owned 0.06% of Guardant Health worth $12,780,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Allworth Financial LP lifted its stake in shares of Guardant Health by 12.4% during the second quarter. Allworth Financial LP now owns 1,072 shares of the company’s stock worth $161,000 after buying an additional 118 shares during the period. GAMMA Investing LLC increased its position in shares of Guardant Health by 14.5% in the 2nd quarter. GAMMA Investing LLC now owns 965 shares of the company’s stock valued at $145,000 after acquiring an additional 122 shares during the period. First Pacific Financial lifted its position in Guardant Health by 33.1% during the 1st quarter. First Pacific Financial now owns 559 shares of the company’s stock worth $52,000 after acquiring an additional 139 shares during the period. ABS Investment Management LLC purchased a new stake in Guardant Health during the 2nd quarter valued at about $345,069,000. Finally, Xponance LLC grew its stake in Guardant Health by 2.1% during the 4th quarter. Xponance LLC now owns 9,630 shares of the company’s stock valued at $984,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BTIG Research restated a “buy” rating and issued a $195.00 price objective on shares of Guardant Health in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Guardant Health from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Canaccord Genuity Group upped their price objective on shares of Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Mizuho raised their target price on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Stephens boosted their target price on shares of Guardant Health from $170.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and a consensus target price of $188.12.

Guardant Health Price Performance

NASDAQ:GH opened at $159.03 on Friday. The company has a 50 day moving average price of $159.93 and a 200-day moving average price of $124.41. Guardant Health, Inc. has a 1-year low of $53.40 and a 1-year high of $176.58. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of -45.57 and a beta of 1.57.

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

Insider Transactions at Guardant Health

In other news, Director Ian T. Clark sold 14,180 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total value of $2,253,485.60. Following the completion of the sale, the director directly owned 2,975 shares in the company, valued at $472,787. The trade was a 82.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Freeman sold 63,605 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $169.58, for a total value of $10,786,135.90. Following the transaction, the insider directly owned 65,374 shares of the company’s stock, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 427,024 shares of company stock worth $67,113,285 over the last quarter. Company insiders own 5.60% of the company’s stock.

Guardant Health Company Profile

Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company’s products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.