Guardant Health (NASDAQ:GH) Sets New 12-Month High - What's Next?

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $50.78 and last traded at $49.39, with a volume of 258542 shares trading hands. The stock had previously closed at $47.65.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GH shares. JPMorgan Chase & Co. upped their price objective on shares of Guardant Health from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of Guardant Health from $36.00 to $49.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Sanford C. Bernstein lowered their price objective on shares of Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Guggenheim reissued a "buy" rating on shares of Guardant Health in a report on Wednesday, January 22nd. Finally, Leerink Partners decreased their price target on Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $42.63.

Guardant Health Trading Up 1.3 %

The company's 50-day moving average is $36.97 and its 200 day moving average is $30.12. The firm has a market cap of $5.88 billion, a PE ratio of -11.22 and a beta of 1.28.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.33). The business had revenue of $191.48 million during the quarter, compared to analysts' expectations of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. Guardant Health's revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.73) EPS. On average, research analysts predict that Guardant Health, Inc. will post -3.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the sale, the director now directly owns 2,676 shares of the company's stock, 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 at this hyperlink. Also, Director Meghan V. Joyce sold 2,896 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were 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 $228,675.20. This represents a 27.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,548 shares of company stock worth $179,782 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Guardant Health

Several large investors have recently made changes to their positions in GH. Sei Investments Co. acquired a new position in Guardant Health during the 2nd quarter worth $831,000. Mackenzie Financial Corp bought a new position in shares of Guardant Health in the second quarter worth about $202,000. Creative Planning acquired a new position in shares of Guardant Health during the 2nd quarter worth about $593,000. Quarry LP bought a new stake in Guardant Health during the 2nd quarter valued at approximately $44,000. Finally, Truist Financial Corp acquired a new stake in Guardant Health in the 2nd quarter valued at approximately $233,000. Institutional investors own 92.60% 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.