Wellington Management Group LLP Purchases 6,618,785 Shares of Guardant Health, Inc. (NASDAQ:GH)

Wellington Management Group LLP lifted its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 188.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,127,528 shares of the company's stock after buying an additional 6,618,785 shares during the quarter. Wellington Management Group LLP owned about 8.20% of Guardant Health worth $232,325,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. JNBA Financial Advisors acquired a new position in shares of Guardant Health during the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Guardant Health during the 3rd quarter worth about $34,000. Quarry LP acquired a new position in shares of Guardant Health during the 2nd quarter worth about $44,000. Canton Hathaway LLC acquired a new position in shares of Guardant Health during the 2nd quarter worth about $59,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Guardant Health during the 2nd quarter worth about $71,000. 92.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Guardant Health from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Piper Sandler lifted their price objective on Guardant Health from $30.00 to $34.00 and gave the company an "overweight" rating in a report on Tuesday, August 13th. Sanford C. Bernstein cut their target price on Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. 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 research note on Thursday, November 7th. Finally, Leerink Partners cut their target price on Guardant Health from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Guardant Health currently has a consensus rating of "Moderate Buy" and an average price target of $40.60.

Guardant Health Trading Down 1.4 %

NASDAQ GH traded down $0.50 during trading hours on Monday, hitting $36.37. 1,109,005 shares of the company's stock were exchanged, compared to its average volume of 2,051,185. The stock has a 50-day simple moving average of $26.60 and a 200 day simple moving average of $27.79. Guardant Health, Inc. has a 1-year low of $15.81 and a 1-year high of $38.53. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of -8.58 and a beta of 1.26. The company has a current ratio of 6.22, a quick ratio of 5.85 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $191.48 million during the quarter, compared to analyst estimates of $170.49 million. During the same period last year, the business posted ($0.73) EPS. The company's revenue was up 33.9% on a year-over-year basis. On average, equities analysts forecast that Guardant Health, Inc. will post -3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 7,648 shares in the company, valued at approximately $228,675.20. This represents a 27.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.50% 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.