Guardant Health (NASDAQ:GH) Price Target Raised to $36.00 at The Goldman Sachs Group

Guardant Health (NASDAQ:GH - Get Free Report) had its price target boosted by analysts at The Goldman Sachs Group from $32.00 to $36.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 25.92% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of Guardant Health from $30.00 to $34.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 13th. TD Cowen boosted their target price on Guardant Health from $41.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on Guardant Health from $45.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. Sanford C. Bernstein decreased their price objective on Guardant Health from $40.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Finally, BTIG Research raised their target price on shares of Guardant Health from $45.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.35.

Guardant Health Trading Up 13.0 %

GH stock traded up $3.30 during midday trading on Thursday, hitting $28.59. 5,658,201 shares of the company's stock were exchanged, compared to its average volume of 2,066,351. Guardant Health has a 1-year low of $15.81 and a 1-year high of $37.04. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70. The stock has a market capitalization of $3.52 billion, a PE ratio of -6.99 and a beta of 1.11. The business has a 50-day simple moving average of $23.07 and a two-hundred day simple moving average of $25.90.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The company had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. During the same quarter in the prior year, the company posted ($0.67) earnings per share. The business's revenue was up 29.2% compared to the same quarter last year. On average, sell-side analysts predict that Guardant Health will post -3.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Guardant Health by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company's stock worth $235,925,000 after buying an additional 305,372 shares during the last quarter. ARK Investment Management LLC increased its stake in Guardant Health by 233.5% during the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company's stock worth $34,701,000 after acquiring an additional 1,059,104 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Guardant Health by 31.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company's stock valued at $36,973,000 after purchasing an additional 309,157 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Guardant Health by 1,282.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company's stock worth $28,128,000 after purchasing an additional 1,137,482 shares during the period. Finally, Railway Pension Investments Ltd increased its position in Guardant Health by 63.8% during the 2nd quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company's stock worth $17,931,000 after purchasing an additional 241,800 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.