Guardant Health, Inc. (NASDAQ:GH – Get Free Report) shares were down 6% during mid-day trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $43.00 to $37.00. The Goldman Sachs Group currently has a buy rating on the stock. Guardant Health traded as low as $22.53 and last traded at $22.58. Approximately 1,018,307 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 1,497,215 shares. The stock had previously closed at $24.01.
A number of other research analysts also recently issued reports on GH. Guggenheim assumed coverage on Guardant Health in a research note on Thursday, December 14th. They issued a “neutral” rating on the stock. Wolfe Research assumed coverage on Guardant Health in a research note on Wednesday, December 13th. They issued a “peer perform” rating on the stock. Citigroup reissued a “buy” rating and issued a $50.00 price objective on shares of Guardant Health in a research note on Monday, October 2nd. Morgan Stanley dropped their price objective on Guardant Health from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 8th. Finally, Raymond James raised Guardant Health from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research note on Monday, November 13th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and an average price target of $48.00.
Insider Buying and Selling at Guardant Health
In other Guardant Health news, insider Kumud Kalia sold 5,800 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $26.37, for a total transaction of $152,946.00. Following the completion of the transaction, the insider now directly owns 5,926 shares of the company’s stock, valued at $156,268.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Guardant Health
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of 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 buying an additional 146,902 shares in the last quarter. Baillie Gifford & Co. bought a new position in Guardant Health in the fourth quarter valued at $167,137,000. Capital International Investors increased its stake in Guardant Health by 71.0% in the first quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock valued at $336,607,000 after acquiring an additional 2,110,240 shares during the last quarter. Alliancebernstein L.P. increased its stake in Guardant Health by 35.2% in the second quarter. Alliancebernstein L.P. now owns 4,463,669 shares of the company’s stock valued at $159,799,000 after acquiring an additional 1,161,901 shares during the last quarter. Finally, Eventide Asset Management LLC increased its stake in Guardant Health by 113.8% in the second quarter. Eventide Asset Management LLC now owns 4,008,602 shares of the company’s stock valued at $143,508,000 after acquiring an additional 2,133,582 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.
Guardant Health Stock Down 6.4 %
The stock has a 50 day moving average price of $25.63 and a 200-day moving average price of $29.38. The stock has a market capitalization of $2.65 billion, a P/E ratio of -5.57 and a beta of 0.99. The company has a debt-to-equity ratio of 4.99, a current ratio of 5.94 and a quick ratio of 5.60.
Guardant Health (NASDAQ:GH – Get Free Report) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.20. Guardant Health had a negative return on equity of 322.25% and a negative net margin of 80.69%. The firm had revenue of $143.03 million for the quarter, compared to analysts’ expectations of $137.25 million. As a group, research analysts expect that Guardant Health, Inc. will post -3.59 EPS for the current fiscal year.
About Guardant Health
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.