Guardant Health (NASDAQ:GH) PT Raised to $45.00 at Citigroup

Guardant Health (NASDAQ:GH) had its price objective upped by analysts at Citigroup from $40.00 to $45.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 55.17% from the company’s current price.

A number of other research firms have also recently issued reports on GH. JPMorgan Chase & Co. upped their price objective on shares of Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. Stephens reiterated an “overweight” rating and set a $44.00 price target on shares of Guardant Health in a report on Friday, May 24th. TD Cowen raised their price objective on Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. Guggenheim raised Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a report on Friday, June 28th. Finally, Bank of America increased their target price on Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Guardant Health Stock Performance

Shares of GH stock traded down $1.27 on Thursday, hitting $29.00. The company’s stock had a trading volume of 2,551,056 shares, compared to its average volume of 2,051,212. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $41.06. The company has a market capitalization of $3.55 billion, a PE ratio of -7.40 and a beta of 1.13. The stock’s 50 day moving average is $30.59 and its 200-day moving average is $24.02. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.66 and a current ratio of 5.95.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative net margin of 76.34% and a negative return on equity of 246.47%. The company had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. During the same period last year, the firm earned ($0.67) EPS. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. Equities research analysts expect that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds have recently added to or reduced their stakes in GH. Norges Bank purchased a new position in Guardant Health during the 4th quarter worth $25,520,000. Duality Advisers LP purchased a new position in Guardant Health during the first quarter worth about $1,154,000. Vanguard Group Inc. grew its position in Guardant Health by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock worth $301,084,000 after purchasing an additional 180,424 shares in the last quarter. Wellington Management Group LLP increased its stake in Guardant Health by 24.1% in the 4th quarter. Wellington Management Group LLP now owns 834,084 shares of the company’s stock valued at $22,562,000 after buying an additional 161,986 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Guardant Health by 3.3% during the 1st quarter. Swiss National Bank now owns 227,700 shares of the company’s stock worth $4,697,000 after buying an additional 7,300 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.