Guardant Health (NASDAQ:GH) Sets New 1-Year High – Here’s Why

Guardant Health, Inc. (NASDAQ:GH) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $42.00 and last traded at $42.12, with a volume of 650168 shares. The stock had previously closed at $36.66.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GH shares. Sanford C. Bernstein dropped their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Leerink Partners reduced their price objective on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Guggenheim reaffirmed a “buy” rating on shares of Guardant Health in a report on Wednesday. Finally, The Goldman Sachs Group increased their price target on shares of Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Fifteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Guardant Health has an average rating of “Buy” and an average target price of $40.60.

Guardant Health Price Performance

The business’s fifty day simple moving average is $34.53 and its two-hundred day simple moving average is $29.26.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The business had revenue of $191.48 million during the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. Guardant Health’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.73) EPS. As a group, equities research analysts expect that Guardant Health, Inc. will post -3.44 EPS for the current fiscal year.

Insider Transactions at Guardant Health

In related news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the sale, the director now directly owns 7,648 shares in the company, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Musa Tariq sold 2,320 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now directly owns 2,676 shares of the company’s stock, valued at $93,660. The trade was a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,548 shares of company stock valued at $179,782 in the last three months. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GH. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Guardant Health by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock valued at $102,000 after purchasing an additional 796 shares in the last quarter. Fiduciary Alliance LLC boosted its stake in Guardant Health by 7.6% during the fourth quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock worth $363,000 after buying an additional 836 shares during the last quarter. R Squared Ltd purchased a new stake in Guardant Health in the 4th quarter valued at $26,000. JNBA Financial Advisors acquired a new stake in shares of Guardant Health in the 3rd quarter worth $26,000. Finally, Wexford Capital LP raised its holdings in shares of Guardant Health by 13.0% during the 3rd quarter. Wexford Capital LP now owns 10,081 shares of the company’s stock worth $231,000 after acquiring an additional 1,158 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.