Guardant Health, Inc. (NASDAQ:GH – Get Free Report)’s share price was down 2.5% during mid-day trading on Wednesday . The company traded as low as $28.11 and last traded at $28.16. Approximately 134,194 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 2,023,016 shares. The stock had previously closed at $28.87.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and set a $44.00 price objective on shares of Guardant Health in a research report on Friday, May 24th. Guggenheim raised Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Friday, June 28th. Canaccord Genuity Group boosted their price objective on Guardant Health from $30.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. The Goldman Sachs Group lowered their target price on Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 15th. Finally, Craig Hallum started coverage on shares of Guardant Health in a research note on Wednesday, April 24th. They set a “buy” rating and a $28.00 price target on the stock. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.83.
Guardant Health Price Performance
The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -7.25 and a beta of 1.13. The company has a current ratio of 5.95, a quick ratio of 5.66 and a debt-to-equity ratio of 16.70. The stock’s fifty day moving average price is $25.42 and its two-hundred day moving average price is $22.94.
Guardant Health (NASDAQ:GH – Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.94) EPS for the quarter, hitting analysts’ consensus estimates of ($0.94). The business had revenue of $168.49 million for the quarter, compared to analysts’ expectations of $150.51 million. Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. Equities research analysts expect that Guardant Health, Inc. will post -3.31 EPS for the current year.
Institutional Trading of Guardant Health
A number of large investors have recently bought and sold shares of GH. Baillie Gifford & Co. purchased a new position in Guardant Health during the fourth quarter worth about $167,137,000. Capital International Investors increased its stake in Guardant Health by 36.7% in the 4th quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock valued at $108,249,000 after purchasing an additional 1,074,452 shares in the last quarter. Norges Bank acquired a new position in Guardant Health during the fourth quarter worth $25,520,000. Cadian Capital Management LP acquired a new position in Guardant Health during the fourth quarter worth $19,206,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Guardant Health during the first quarter worth $8,300,000. Institutional investors and hedge funds own 92.60% 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.