Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, Mizuho Analyst Says

Guardant Health (NASDAQ:GH) had its price objective upped by Mizuho from $65.00 to $70.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on GH. Cowen reaffirmed a “buy” rating on shares of Guardant Health in a research note on Thursday. Wells Fargo & Company assumed coverage on shares of Guardant Health in a research note on Monday, September 22nd. They set an “overweight” rating and a $72.00 price objective for the company. Raymond James Financial upped their price objective on shares of Guardant Health from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. William Blair reiterated an “outperform” rating on shares of Guardant Health in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Guardant Health from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating and twenty-two have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $65.25.

Guardant Health Stock Down 0.2%

GH stock opened at $60.03 on Thursday. The stock has a market capitalization of $7.49 billion, a P/E ratio of -17.92 and a beta of 1.46. The firm has a 50-day simple moving average of $55.61 and a 200-day simple moving average of $48.88. 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, topping analysts’ consensus estimates of ($0.52) by $0.08. The company had revenue of $232.09 million for the quarter, compared to analysts’ expectations of $211.19 million. During the same period in the prior year, the firm earned ($0.84) EPS. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. On average, analysts expect that Guardant Health will post -2.9 earnings per share for the current year.

Insider Activity at Guardant Health

In related news, CEO Helmy Eltoukhy sold 300,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 2,123,499 shares in the company, valued at $126,242,015.55. This trade represents a 12.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Medina Manuel Hidalgo sold 2,165 shares of Guardant Health 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 transaction, the director owned 851 shares of the company’s stock, valued at approximately $46,090.16. The trade was a 71.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 402,691 shares of company stock worth $23,069,965 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Several institutional investors have recently bought and sold shares of GH. Signaturefd LLC boosted its stake in shares of Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock valued at $33,000 after purchasing an additional 213 shares during the period. IFP Advisors Inc increased its holdings in shares of Guardant Health by 120.1% in the 2nd quarter. IFP Advisors Inc now owns 612 shares of the company’s stock worth $33,000 after acquiring an additional 334 shares during the period. Allworth Financial LP increased its holdings in shares of Guardant Health by 358.4% in the 2nd quarter. Allworth Financial LP now owns 706 shares of the company’s stock worth $37,000 after acquiring an additional 552 shares during the period. SVB Wealth LLC bought a new position in Guardant Health in the 1st quarter valued at about $54,000. Finally, FNY Investment Advisers LLC bought a new position in Guardant Health in the 2nd quarter valued at about $62,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Company 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.