Guardant Health, Inc. (NASDAQ:GH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Posted by Defense World Staff on Aug 29th, 2023

Guardant Health, Inc. (NASDAQ:GH – Get Free Report) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $56.87.

Several equities research analysts recently weighed in on GH shares. Morgan Stanley reduced their price objective on shares of Guardant Health from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 7th. UBS Group started coverage on shares of Guardant Health in a research report on Friday, May 5th. They issued a “buy” rating and a $40.00 price target on the stock. Credit Suisse Group dropped their price target on shares of Guardant Health from $60.00 to $55.00 in a research report on Wednesday, May 10th. Citigroup boosted their price target on shares of Guardant Health from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Piper Sandler boosted their price target on shares of Guardant Health from $30.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 8th.

Check Out Our Latest Stock Report on GH

Insider Buying and Selling

In other Guardant Health news, Director Meghan V. Joyce sold 2,766 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $37.55, for a total value of $103,863.30. Following the sale, the director now owns 4,224 shares in the company, valued at approximately $158,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Meghan V. Joyce sold 2,766 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $37.55, for a total transaction of $103,863.30. Following the sale, the director now owns 4,224 shares in the company, valued at approximately $158,611.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kumud Kalia bought 2,981 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were acquired at an average price of $32.71 per share, for a total transaction of $97,508.51. Following the transaction, the insider now owns 5,193 shares in the company, valued at $169,863.03. The disclosure for this purchase can be found here. 6.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Guardant Health

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Guardant Health by 0.8% during the third quarter. Vanguard Group Inc. now owns 8,915,566 shares of the company’s stock valued at $479,925,000 after acquiring an additional 74,247 shares during the last quarter. Capital International Investors grew its holdings in Guardant Health by 71.0% during the first quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock valued at $336,607,000 after purchasing an additional 2,110,240 shares during the period. Alliancebernstein L.P. grew its holdings in Guardant Health by 35.2% during the second quarter. Alliancebernstein L.P. now owns 4,463,669 shares of the company’s stock valued at $159,799,000 after purchasing an additional 1,161,901 shares during the period. Eventide Asset Management LLC grew its holdings in Guardant Health by 113.8% during the second quarter. Eventide Asset Management LLC now owns 4,008,602 shares of the company’s stock valued at $143,508,000 after purchasing an additional 2,133,582 shares during the period. Finally, Temasek Holdings Private Ltd grew its holdings in Guardant Health by 8.2% during the second quarter. Temasek Holdings Private Ltd now owns 3,963,872 shares of the company’s stock valued at $141,907,000 after purchasing an additional 299,510 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

Shares of NASDAQ:GH opened at $38.22 on Tuesday. The company has a market cap of $4.50 billion, a P/E ratio of -7.78 and a beta of 0.87. The company has a debt-to-equity ratio of 3.89, a quick ratio of 6.65 and a current ratio of 6.96. Guardant Health has a one year low of $20.67 and a one year high of $62.75. The business’s 50-day simple moving average is $37.05 and its 200 day simple moving average is $30.75.

Guardant Health (NASDAQ:GH – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.58. The company had revenue of $137.15 million during the quarter, compared to analyst estimates of $129.44 million. Guardant Health had a negative return on equity of 427.89% and a negative net margin of 99.62%. The business’s revenue was up 25.7% on a year-over-year basis. During the same quarter last year, the firm earned ($2.25) EPS. On average, sell-side analysts forecast that Guardant Health will post -3.77 earnings per share for the current fiscal year.

Guardant Health Company Profile

(Get Free Report

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.