Tower Research Capital LLC TRC boosted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH – Free Report) by 3,617.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,042 shares of the company’s stock after buying an additional 31,180 shares during the period. Tower Research Capital LLC TRC’s holdings in Guardant Health were worth $751,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new stake in shares of Guardant Health during the 1st quarter valued at $27,000. Captrust Financial Advisors raised its position in Guardant Health by 33.2% during the second quarter. Captrust Financial Advisors now owns 1,087 shares of the company’s stock valued at $44,000 after purchasing an additional 271 shares in the last quarter. Itau Unibanco Holding S.A. lifted its stake in Guardant Health by 68.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,760 shares of the company’s stock worth $48,000 after purchasing an additional 717 shares during the last quarter. Manchester Capital Management LLC bought a new stake in Guardant Health during the first quarter worth about $51,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of Guardant Health in the 4th quarter worth about $62,000. 87.94% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GH has been the subject of several research reports. Morgan Stanley cut their target price on Guardant Health from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, August 7th. Piper Sandler increased their target price on shares of Guardant Health from $30.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. UBS Group initiated coverage on shares of Guardant Health in a research report on Friday, May 5th. They issued a “buy” rating and a $40.00 target price on the stock. Credit Suisse Group cut their price target on shares of Guardant Health from $60.00 to $55.00 in a research report on Wednesday, May 10th. Finally, Citigroup lifted their price objective on Guardant Health from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 4th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.87.
Guardant Health Trading Up 4.1 %
NASDAQ GH opened at $37.01 on Friday. Guardant Health, Inc. has a fifty-two week low of $20.67 and a fifty-two week high of $62.75. The company has a debt-to-equity ratio of 3.89, a quick ratio of 6.65 and a current ratio of 6.96. The stock has a 50 day simple moving average of $36.99 and a two-hundred day simple moving average of $30.52. The stock has a market cap of $4.36 billion, a P/E ratio of -7.54 and a beta of 0.87.
Guardant Health (NASDAQ:GH – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($1.25) by $0.58. Guardant Health had a negative return on equity of 427.89% and a negative net margin of 99.62%. The business had revenue of $137.15 million during the quarter, compared to analysts’ expectations of $129.44 million. During the same quarter last year, the business posted ($2.25) EPS. The business’s revenue was up 25.7% on a year-over-year basis. On average, analysts forecast that Guardant Health, Inc. will post -3.94 earnings per share for the current year.
Insiders Place Their Bets
In other Guardant Health news, insider Kumud Kalia acquired 2,981 shares of the company’s stock in a transaction on Friday, June 9th. The stock was acquired at an average price of $32.71 per share, for a total transaction of $97,508.51. Following the acquisition, the insider now owns 5,193 shares in the company, valued at approximately $169,863.03. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Meghan V. Joyce sold 2,766 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $37.55, for a total value of $103,863.30. Following the completion of the transaction, the director now owns 4,224 shares in the company, valued at approximately $158,611.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kumud Kalia bought 2,981 shares of the stock in a transaction dated Friday, June 9th. The stock was purchased at an average price of $32.71 per share, with a total value of $97,508.51. Following the purchase, the insider now owns 5,193 shares in the company, valued at $169,863.03. The disclosure for this purchase can be found here. Company insiders own 6.20% of the company’s stock.
Guardant Health Company Profile
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers Guardant360; Guardant360 LDT; Guardant360 CDx; 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.
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