Insider Selling: Guardant Health (NASDAQ:GH) Director Sells $11,032.41 in Stock

Guardant Health, Inc. (NASDAQ:GH) Director Alex Azar II sold 69 shares of Guardant Health stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $159.89, for a total transaction of $11,032.41. Following the sale, the director owned 893 shares in the company, valued at $142,781.77. This represents a 7.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $158.60 on Friday. The firm has a market capitalization of $21.28 billion, a PE ratio of -45.44 and a beta of 1.58. The company’s fifty day moving average price is $167.94 and its two-hundred day moving average price is $139.16. Guardant Health, Inc. has a 52-week low of $64.00 and a 52-week high of $191.05.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. The company’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.44) EPS. Analysts predict that Guardant Health, Inc. will post -3.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Guardant Health in the 2nd quarter valued at $208,592,000. William Blair Investment Management LLC bought a new stake in shares of Guardant Health in the 2nd quarter worth about $196,737,000. Summit Partners Public Asset Management LLC increased its position in shares of Guardant Health by 674.5% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after purchasing an additional 741,958 shares in the last quarter. First Light Asset Management LLC increased its position in shares of Guardant Health by 57.5% during the 2nd quarter. First Light Asset Management LLC now owns 441,586 shares of the company’s stock worth $66,251,000 after purchasing an additional 161,287 shares in the last quarter. Finally, Orbimed Advisors LLC acquired a new stake in shares of Guardant Health during the 1st quarter worth about $40,199,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GH shares. Morgan Stanley upped their target price on shares of Guardant Health from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. BTIG Research restated a “buy” rating and set a $195.00 price target on shares of Guardant Health in a research note on Wednesday, September 2nd. UBS Group lifted their price objective on Guardant Health from $175.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Canaccord Genuity Group lifted their price objective on Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Mizuho upped their price objective on Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.00.

Guardant Health Company Profile

Guardant Health, Inc (NASDAQ: GH) is a precision oncology company that develops blood- and tissue-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients throughout the course of their disease. Its testing platforms analyze circulating tumor DNA and other genomic information to provide insights into a tumor’s molecular characteristics.

The company’s products include Guardant360 tests for comprehensive genomic profiling in advanced cancer, Guardant360 CDx, which is approved as a companion diagnostic for certain targeted therapies, and Guardant360 Response for assessing how a tumor may be responding to treatment.