The Goldman Sachs Group Forecasts Strong Price Appreciation for Guardant Health (NASDAQ:GH) Stock

Guardant Health (NASDAQ:GH - Free Report) had its price target boosted by The Goldman Sachs Group from $36.00 to $49.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Leerink Partners cut their price objective on Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on Guardant Health from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Barclays assumed coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They set an "overweight" rating and a $60.00 target price on the stock. Guggenheim reissued a "buy" rating on shares of Guardant Health in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein dropped their price objective on shares of Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Sixteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $42.63.

Guardant Health Stock Down 5.9 %

Shares of GH traded down $2.96 during midday trading on Tuesday, reaching $46.98. 2,398,538 shares of the stock were exchanged, compared to its average volume of 2,317,980. The company has a market cap of $5.80 billion, a price-to-earnings ratio of -11.08 and a beta of 1.28. The firm has a 50 day simple moving average of $36.97 and a 200-day simple moving average of $30.14. Guardant Health has a 12-month low of $15.81 and a 12-month high of $50.89.

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 the consensus estimate of ($0.55) by ($0.33). The business had revenue of $191.48 million during the quarter, compared to the consensus estimate of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business's revenue was up 33.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.73) earnings per share. Research analysts expect that Guardant Health will post -3.43 earnings per share for the current fiscal year.

Insider Transactions at Guardant Health

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. Also, Director Meghan V. Joyce sold 2,896 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the transaction, the director now directly owns 7,648 shares in the company, valued at $228,675.20. This trade represents a 27.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,548 shares of company stock valued at $179,782 in the last three months. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of Guardant Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Guardant Health by 188.6% in the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company's stock worth $232,325,000 after purchasing an additional 6,618,785 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in Guardant Health by 2.0% during the third quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company's stock worth $88,028,000 after buying an additional 76,762 shares during the last quarter. Geode Capital Management LLC grew 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 buying an additional 29,686 shares during the period. ARK Investment Management LLC increased its stake in shares of Guardant Health by 233.5% in the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company's stock valued at $34,701,000 after acquiring an additional 1,059,104 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Guardant Health by 19.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company's stock valued at $44,732,000 after acquiring an additional 238,037 shares during the period. 92.60% of the stock is owned by 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.