Bank of New York Mellon Corp Has $27.49 Million Position in Guardant Health, Inc. (NASDAQ:GH)

Bank of New York Mellon Corp trimmed its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 899,902 shares of the company's stock after selling 49,309 shares during the quarter. Bank of New York Mellon Corp owned 0.73% of Guardant Health worth $27,492,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GH. Lord Abbett & CO. LLC bought a new position in Guardant Health during the 3rd quarter worth approximately $15,624,000. Guyasuta Investment Advisors Inc. bought a new position in Guardant Health during the fourth quarter worth $206,000. Cerity Partners LLC lifted its holdings in Guardant Health by 54.6% in the third quarter. Cerity Partners LLC now owns 195,008 shares of the company's stock worth $4,473,000 after acquiring an additional 68,883 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Guardant Health by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company's stock worth $64,754,000 after purchasing an additional 29,686 shares during the period. Finally, Entropy Technologies LP bought a new stake in Guardant Health in the fourth quarter valued at $377,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Price Performance

NASDAQ:GH traded up $0.32 during midday trading on Wednesday, reaching $42.95. The stock had a trading volume of 2,537,779 shares, compared to its average volume of 2,137,574. The stock has a market capitalization of $5.30 billion, a P/E ratio of -12.04 and a beta of 1.50. Guardant Health, Inc. has a 1-year low of $15.81 and a 1-year high of $50.89. The firm's fifty day simple moving average is $42.40 and its 200-day simple moving average is $32.61.

Remove Ads

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The business had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. On average, equities research analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Scotiabank lifted their price target on Guardant Health from $47.00 to $52.00 and gave the company a "sector outperform" rating in a report on Monday, February 24th. Stifel Nicolaus increased their price objective on shares of Guardant Health from $45.00 to $53.00 and gave the company a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Raymond James reaffirmed an "outperform" rating and set a $59.00 price target (up from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Finally, The Goldman Sachs Group boosted their price objective on Guardant Health from $49.00 to $56.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Twenty analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $48.40.

Insider Activity

In other news, Director Musa Tariq sold 2,320 shares of the business's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the sale, the director now owns 2,676 shares in the company, valued at $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 2,668 shares of company stock valued at $95,208. 5.50% of the stock is owned by company insiders.

Guardant Health Company Profile

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.