Truist Financial Corp bought a new position in Guardant Health, Inc. (NASDAQ:GH – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,554 shares of the company’s stock, valued at approximately $258,000.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Guardant Health by 1.4% in the third quarter. Vanguard Group Inc. now owns 10,950,230 shares of the company’s stock worth $324,565,000 after purchasing an additional 146,902 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Guardant Health by 2.9% during the third quarter. The Manufacturers Life Insurance Company now owns 568,148 shares of the company’s stock worth $16,840,000 after acquiring an additional 16,111 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Guardant Health during the third quarter worth about $1,689,000. Rhumbline Advisers grew its stake in shares of Guardant Health by 5.8% during the third quarter. Rhumbline Advisers now owns 159,660 shares of the company’s stock worth $4,732,000 after acquiring an additional 8,688 shares during the last quarter. Finally, Baillie Gifford & Co. purchased a new stake in shares of Guardant Health during the fourth quarter worth about $167,137,000. 92.60% of the stock is currently owned by institutional investors.
Guardant Health Trading Down 4.8 %
Guardant Health stock opened at $23.57 on Wednesday. The company has a current ratio of 5.95, a quick ratio of 5.66 and a debt-to-equity ratio of 16.70. Guardant Health, Inc. has a 12 month low of $15.81 and a 12 month high of $41.06. The stock’s 50 day simple moving average is $19.25 and its two-hundred day simple moving average is $22.22. The firm has a market cap of $2.88 billion, a PE ratio of -6.01 and a beta of 0.92.
Guardant Health (NASDAQ:GH – Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.65). The business had revenue of $155.05 million for the quarter, compared to analyst estimates of $151.71 million. Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. Analysts anticipate that Guardant Health, Inc. will post -3.49 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on GH shares. Piper Sandler dropped their price target on Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, February 26th. Craig Hallum initiated coverage on Guardant Health in a research report on Wednesday, April 24th. They issued a “buy” rating and a $28.00 target price on the stock. The Goldman Sachs Group dropped their target price on Guardant Health from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. Guggenheim reiterated a “neutral” rating on shares of Guardant Health in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. dropped their target price on Guardant Health from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Guardant Health presently has a consensus rating of “Moderate Buy” and an average target price of $35.78.
View Our Latest Stock Analysis on Guardant Health
Insider Transactions at Guardant Health
In other Guardant Health news, insider Kumud Kalia bought 2,187 shares of Guardant Health stock in a transaction dated Monday, March 18th. The stock was acquired at an average cost of $17.82 per share, with a total value of $38,972.34. Following the purchase, the insider now directly owns 12,722 shares in the company, valued at approximately $226,706.04. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.20% of the company’s stock.
About Guardant Health
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.
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