Guardant Health, Inc. (NASDAQ:GH) Receives Average Rating of “Buy” from Brokerages

Guardant Health, Inc. (NASDAQ:GH) has received a consensus rating of “Buy” from the nineteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Eighteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $59.00.

GH has been the subject of a number of recent research reports. Evercore ISI upgraded Guardant Health to a “strong-buy” rating in a research note on Monday, July 14th. Mizuho lifted their price objective on Guardant Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. BTIG Research reiterated a “buy” rating and set a $70.00 price objective on shares of Guardant Health in a research note on Monday. Scotiabank lifted their price objective on Guardant Health from $57.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company initiated coverage on Guardant Health in a research note on Monday. They set an “overweight” rating and a $72.00 price objective for the company.

Guardant Health Stock Down 0.1%

GH opened at $59.72 on Wednesday. The stock has a market cap of $7.45 billion, a PE ratio of -17.83 and a beta of 1.46. The business has a 50 day moving average of $54.89 and a 200-day moving average of $48.49. Guardant Health has a 52 week low of $20.14 and a 52 week high of $68.00.

Guardant Health (NASDAQ:GH) last released 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 firm had revenue of $232.09 million during the quarter, compared to analysts’ expectations of $211.19 million. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. Equities analysts anticipate that Guardant Health will post -2.9 EPS for the current year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Medina Manuel Hidalgo sold 2,165 shares of Guardant Health stock in a transaction on Friday, September 12th. The stock was sold at an average price of $54.16, for a total transaction of $117,256.40. Following the completion of the transaction, the director owned 851 shares in the company, valued at approximately $46,090.16. The trade was a 71.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Helmy Eltoukhy sold 300,000 shares of Guardant Health stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the transaction, the chief executive officer owned 2,123,499 shares of the company’s stock, valued at $126,242,015.55. The trade was a 12.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 402,691 shares of company stock worth $23,069,965. 6.10% of the stock is owned by insiders.

Institutional Trading of Guardant Health

A number of institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its holdings in shares of Guardant Health by 27.3% in the 2nd quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock worth $185,184,000 after purchasing an additional 763,834 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Guardant Health by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,920,714 shares of the company’s stock worth $152,014,000 after purchasing an additional 13,088 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Guardant Health by 100.4% in the 2nd quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock worth $146,935,000 after purchasing an additional 1,414,381 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Guardant Health by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,777,040 shares of the company’s stock worth $118,302,000 after purchasing an additional 164,263 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Guardant Health by 78.2% in the 2nd quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock worth $120,730,000 after purchasing an additional 1,018,144 shares in the last quarter. Institutional investors 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.