Algert Global LLC Takes Position in Guardant Health, Inc. $GH

Algert Global LLC acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 52,940 shares of the company’s stock, valued at approximately $2,255,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in Guardant Health during the first quarter worth $232,000. Stifel Financial Corp boosted its holdings in Guardant Health by 25.1% during the fourth quarter. Stifel Financial Corp now owns 49,927 shares of the company’s stock worth $1,525,000 after buying an additional 10,006 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Guardant Health during the first quarter worth $866,000. Fifth Third Bancorp purchased a new stake in Guardant Health during the first quarter worth $279,000. Finally, Raymond James Financial Inc. purchased a new stake in Guardant Health during the fourth quarter worth $2,211,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ian T. Clark sold 6,672 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $48.38, for a total value of $322,791.36. Following the completion of the sale, the director directly owned 9,851 shares in the company, valued at $476,591.38. This represents a 40.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.70, for a total transaction of $130,512.20. Following the completion of the sale, the director owned 18,180 shares of the company’s stock, valued at $903,546. This trade represents a 12.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,542 shares of company stock valued at $11,852,491. Corporate insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GH shares. Mizuho increased their price target on shares of Guardant Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Evercore ISI raised shares of Guardant Health to a “strong-buy” rating in a report on Monday, July 14th. Raymond James Financial increased their price objective on shares of Guardant Health from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price objective (up from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group increased their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $57.50.

Guardant Health Stock Up 4.8%

Shares of NASDAQ GH opened at $61.28 on Friday. The firm has a 50-day simple moving average of $50.02 and a 200-day simple moving average of $45.87. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of -18.29 and a beta of 1.43. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $62.08.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. The business had revenue of $232.09 million during the quarter, compared to analyst estimates of $211.19 million. Guardant Health’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current year.

Guardant Health Profile

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.