Guardant Health (NASDAQ:GH) Price Target Raised to $70.00

Guardant Health (NASDAQ:GH) had its price objective hoisted by JPMorgan Chase & Co. from $60.00 to $70.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently weighed in on GH. BTIG Research reaffirmed a “buy” rating and set a $70.00 price objective on shares of Guardant Health in a research report on Monday, September 22nd. Evercore ISI raised shares of Guardant Health to a “strong-buy” rating in a report on Monday, July 14th. Wolfe Research raised shares of Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Thursday. Mizuho lifted their target price on shares of Guardant Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Finally, Scotiabank increased their price target on Guardant Health from $57.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and twenty-two have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $65.25.

Guardant Health Price Performance

NASDAQ:GH opened at $60.03 on Thursday. Guardant Health has a 1-year low of $20.14 and a 1-year high of $68.00. The firm’s 50-day moving average price is $55.61 and its 200-day moving average price is $48.88. The company has a market capitalization of $7.49 billion, a PE ratio of -17.92 and a beta of 1.46.

Guardant Health (NASDAQ:GH) last released 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 period last year, the firm posted ($0.84) earnings per share. The company’s revenue was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. Equities analysts anticipate that Guardant Health will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other news, Director Medina Manuel Hidalgo sold 2,165 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $54.16, for a total transaction of $117,256.40. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amirali Talasaz sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the transaction, the chief executive officer owned 1,971,830 shares in the company, valued at $100,326,710.40. The trade was a 4.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 402,691 shares of company stock valued at $23,069,965. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Guardant Health

A number of hedge funds and other institutional investors have recently made changes to their positions in GH. Signaturefd LLC grew its position in Guardant Health by 50.5% during the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock valued at $33,000 after buying an additional 213 shares during the period. American Century Companies Inc. boosted its stake in shares of Guardant Health by 0.3% during the 1st quarter. American Century Companies Inc. now owns 104,206 shares of the company’s stock worth $4,439,000 after acquiring an additional 282 shares in the last quarter. IFP Advisors Inc grew its position in shares of Guardant Health by 120.1% during the 2nd quarter. IFP Advisors Inc now owns 612 shares of the company’s stock valued at $33,000 after acquiring an additional 334 shares during the period. Main Management ETF Advisors LLC increased its holdings in Guardant Health by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 21,257 shares of the company’s stock worth $1,106,000 after acquiring an additional 348 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Guardant Health by 0.9% during the 1st quarter. HighTower Advisors LLC now owns 51,107 shares of the company’s stock worth $2,177,000 after purchasing an additional 469 shares during 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.