Mendel Money Management Acquires New Stake in Guardant Health, Inc. $GH

Mendel Money Management bought a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) during the 2nd quarter, HoldingsChannel reports. The firm bought 4,855 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors have also added to or reduced their stakes in GH. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Guardant Health by 403.4% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 45,324 shares of the company’s stock worth $2,359,000 after buying an additional 36,320 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Guardant Health in the 2nd quarter worth $2,382,000. Envestnet Asset Management Inc. boosted its stake in shares of Guardant Health by 40.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 38,622 shares of the company’s stock worth $2,010,000 after buying an additional 11,125 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Guardant Health by 11.5% during the second quarter. State of New Jersey Common Pension Fund D now owns 50,835 shares of the company’s stock valued at $2,645,000 after purchasing an additional 5,253 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Guardant Health by 49.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,030,638 shares of the company’s stock valued at $105,674,000 after purchasing an additional 673,411 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GH has been the topic of a number of recent analyst reports. Barclays raised their price target on Guardant Health from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. BTIG Research set a $80.00 target price on Guardant Health in a report on Thursday, September 25th. William Blair reissued an “outperform” rating on shares of Guardant Health in a research note on Thursday, September 25th. Guggenheim boosted their price objective on Guardant Health from $56.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Finally, Wolfe Research raised Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Thursday, September 25th. Twenty-three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.29.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $69.58 on Wednesday. The business’s 50 day moving average price is $62.70 and its 200-day moving average price is $52.34. Guardant Health, Inc. has a fifty-two week low of $21.28 and a fifty-two week high of $73.31. The company has a market cap of $8.68 billion, a price-to-earnings ratio of -20.77 and a beta of 1.53.

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

Insider Buying and Selling at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 300,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the sale, the chief executive officer owned 2,123,499 shares of the company’s stock, valued at approximately $126,242,015.55. This trade represents a 12.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $54.16, for a total value of $117,256.40. Following the sale, the director directly owned 851 shares in the company, valued at $46,090.16. This trade represents a 71.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 302,691 shares of company stock worth $17,984,628 in the last ninety days. Insiders own 6.10% of the company’s stock.

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.