Geode Capital Management LLC Boosts Holdings in Guardant Health, Inc. $GH

Geode Capital Management LLC lifted its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,920,714 shares of the company’s stock after purchasing an additional 13,088 shares during the period. Geode Capital Management LLC owned about 2.34% of Guardant Health worth $152,014,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Guardant Health by 50.5% during the 2nd quarter. Signaturefd LLC now owns 635 shares of the company’s stock worth $33,000 after buying an additional 213 shares during the period. IFP Advisors Inc increased its position in shares of Guardant Health by 120.1% during the second quarter. IFP Advisors Inc now owns 612 shares of the company’s stock worth $33,000 after acquiring an additional 334 shares during the last quarter. Allworth Financial LP increased its position in shares of Guardant Health by 358.4% during the second quarter. Allworth Financial LP now owns 706 shares of the company’s stock worth $37,000 after acquiring an additional 552 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Guardant Health in the first quarter worth about $54,000. Finally, FNY Investment Advisers LLC purchased a new position in Guardant Health in the second quarter valued at about $62,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Guardant Health

In other news, insider John G. Saia sold 8,996 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $96.25, for a total transaction of $865,865.00. Following the completion of the transaction, the insider directly owned 43,172 shares of the company’s stock, valued at approximately $4,155,305. This represents a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $54.16, for a total value of $117,256.40. Following the completion of the sale, the director directly owned 851 shares in the company, valued at approximately $46,090.16. This trade represents a 71.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 313,045 shares of company stock worth $18,984,897 over the last ninety days. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GH. Evercore ISI lifted their price objective on Guardant Health from $68.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. UBS Group lifted their price target on shares of Guardant Health from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Citigroup increased their price objective on shares of Guardant Health from $65.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Scotiabank raised their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Guardant Health from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Twenty-three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.14.

Guardant Health Price Performance

GH stock opened at $95.57 on Wednesday. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of -29.77 and a beta of 1.56. Guardant Health, Inc. has a 1-year low of $28.45 and a 1-year high of $101.57. The firm has a fifty day moving average price of $72.20 and a two-hundred day moving average price of $57.49.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.09. During the same quarter in the prior year, the company earned ($0.88) earnings per share. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. As a group, analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

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.