Analysts Set Guardant Health, Inc. (NASDAQ:GH) Target Price at $40.60

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) has received a consensus rating of "Buy" from the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.60.

GH has been the subject of a number of research reports. Leerink Partners reduced their target price on shares of Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on Guardant Health from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Guardant Health from $32.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein decreased their price target on Guardant Health from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th.

Guardant Health Stock Up 0.3 %

GH traded up $0.12 on Friday, reaching $36.71. The company's stock had a trading volume of 2,808,139 shares, compared to its average volume of 2,314,273. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of -8.66 and a beta of 1.28. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $38.53. The company has a quick ratio of 5.85, a current ratio of 6.22 and a debt-to-equity ratio of 16.70. The stock has a 50 day moving average of $32.34 and a two-hundred day moving average of $28.61.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company had revenue of $191.48 million during the quarter, compared to analysts' expectations of $170.49 million. During the same period last year, the business earned ($0.73) earnings per share. The company's quarterly revenue was up 33.9% on a year-over-year basis. As a group, analysts forecast that Guardant Health will post -3.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the transaction, the director now owns 7,648 shares of the company's stock, valued at approximately $228,675.20. This trade represents a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the sale, the director now owns 2,676 shares of the company's stock, valued at approximately $93,660. This represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,432 shares of company stock valued at $175,423. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Guardant Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company's stock worth $102,000 after purchasing an additional 796 shares in the last quarter. JNBA Financial Advisors acquired a new position in Guardant Health during the 3rd quarter valued at about $26,000. Wexford Capital LP increased its stake in Guardant Health by 13.0% during the 3rd quarter. Wexford Capital LP now owns 10,081 shares of the company's stock valued at $231,000 after buying an additional 1,158 shares during the period. Ashton Thomas Securities LLC acquired a new position in Guardant Health during the 3rd quarter valued at about $34,000. Finally, Quarry LP bought a new stake in shares of Guardant Health during the 2nd quarter worth about $44,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.