Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Guardant Health, Inc. (NASDAQ:GH)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,129 shares of the company’s stock after purchasing an additional 2,641 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Guardant Health were worth $1,411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC purchased a new position in Guardant Health in the fourth quarter worth $293,000. Norges Bank bought a new stake in shares of Guardant Health during the 4th quarter worth $36,438,000. California Public Employees Retirement System boosted its holdings in shares of Guardant Health by 13.8% in the 4th quarter. California Public Employees Retirement System now owns 178,470 shares of the company’s stock worth $5,452,000 after buying an additional 21,674 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Guardant Health during the fourth quarter valued at about $420,000. Finally, Federated Hermes Inc. grew its position in Guardant Health by 11.5% during the fourth quarter. Federated Hermes Inc. now owns 962,722 shares of the company’s stock valued at $29,411,000 after buying an additional 99,072 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Guardant Health

In other news, Director Musa Tariq sold 3,213 shares of the business’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total transaction of $158,947.11. Following the completion of the transaction, the director directly owned 7,190 shares in the company, valued at $355,689.30. The trade was a 30.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Meghan V. Joyce sold 3,337 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.22, for a total transaction of $157,573.14. Following the completion of the transaction, the director directly owned 11,150 shares in the company, valued at approximately $526,503. The trade was a 23.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,516 shares of company stock valued at $11,848,754 in the last quarter. 6.10% of the stock is currently owned by company insiders.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $41.42 on Monday. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $53.42. The stock has a market cap of $5.17 billion, a PE ratio of -12.36 and a beta of 1.43. The stock has a fifty day moving average of $47.21 and a 200-day moving average of $45.00.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.08. The company had revenue of $232.09 million during the quarter, compared to the consensus estimate of $211.19 million. During the same quarter in the prior year, the business earned ($0.84) EPS. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. On average, sell-side analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on GH shares. UBS Group lifted their price objective on shares of Guardant Health from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Evercore ISI raised shares of Guardant Health to a “strong-buy” rating in a report on Monday, July 14th. Stifel Nicolaus upped their price objective on Guardant Health from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Mizuho increased their price objective on Guardant Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $60.00 target price (up from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Guardant Health presently has a consensus rating of “Buy” and an average price target of $54.95.

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.