Guardant Health (NASDAQ:GH) Director Ian Clark Sells 6,876 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) Director Ian Clark sold 6,876 shares of Guardant Health stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $106.90, for a total transaction of $735,044.40. Following the transaction, the director owned 2,975 shares of the company’s stock, valued at approximately $318,027.50. The trade was a 69.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $118.95 on Friday. Guardant Health, Inc. has a 1 year low of $36.36 and a 1 year high of $121.01. The business has a 50 day moving average price of $91.15 and a 200 day moving average price of $98.94. The company has a market capitalization of $15.77 billion, a P/E ratio of -35.09 and a beta of 1.48.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The business had revenue of $281.27 million during the quarter, compared to the consensus estimate of $269.74 million. During the same period last year, the firm earned ($0.62) earnings per share. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. As a group, research analysts expect that Guardant Health, Inc. will post -2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

Several hedge funds have recently modified their holdings of GH. Emerald Advisers LLC boosted its holdings in shares of Guardant Health by 24.8% in the 3rd quarter. Emerald Advisers LLC now owns 873,203 shares of the company’s stock valued at $54,558,000 after purchasing an additional 173,281 shares during the last quarter. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Guardant Health during the 3rd quarter worth $1,554,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Guardant Health by 54.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 301,449 shares of the company’s stock worth $18,835,000 after buying an additional 106,263 shares during the last quarter. Erste Asset Management GmbH raised its position in shares of Guardant Health by 10.4% in the 3rd quarter. Erste Asset Management GmbH now owns 705,217 shares of the company’s stock worth $43,716,000 after buying an additional 66,617 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in Guardant Health by 57.8% in the third quarter. Segall Bryant & Hamill LLC now owns 305,147 shares of the company’s stock valued at $19,066,000 after acquiring an additional 111,822 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GH. Leerink Partners raised their price target on shares of Guardant Health from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Raymond James Financial reissued an “outperform” rating and set a $129.00 price objective on shares of Guardant Health in a research note on Monday, February 23rd. Stifel Nicolaus raised their target price on shares of Guardant Health from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Canaccord Genuity Group lifted their target price on shares of Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, BTIG Research increased their price target on Guardant Health from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Nineteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.