Guardant Health (NASDAQ:GH) Sets New 52-Week High - Time to Buy?

Guardant Health, Inc. (NASDAQ:GH - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $39.29 and last traded at $38.89, with a volume of 133117 shares changing hands. The stock had previously closed at $38.10.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of Guardant Health from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Sanford C. Bernstein reduced their target price on Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Leerink Partners lowered their target price 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. Finally, 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 research note on Thursday, November 7th. Fifteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $40.60.

Guardant Health Stock Down 1.7 %

The stock has a market cap of $4.63 billion, a P/E ratio of -8.83 and a beta of 1.28. The company's fifty day moving average price is $32.90 and its 200-day moving average price is $28.72. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The business had revenue of $191.48 million for 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%. The firm's quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.73) EPS. Equities analysts forecast that Guardant Health, Inc. will post -3.44 EPS for the current year.

Insider Activity at Guardant Health

In other news, Director Meghan V. Joyce sold 2,896 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now owns 7,648 shares of the company's stock, valued at approximately $228,675.20. This represents a 27.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares of the company's stock, valued at approximately $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,432 shares of company stock worth $175,423 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Guardant Health

Institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC purchased a new position in shares of Guardant Health in the 3rd quarter valued at approximately $15,624,000. Cerity Partners LLC raised its holdings in shares of Guardant Health by 54.6% in the third quarter. Cerity Partners LLC now owns 195,008 shares of the company's stock worth $4,473,000 after buying an additional 68,883 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Guardant Health by 1.1% during the third 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. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Guardant Health by 1,282.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company's stock valued at $28,128,000 after buying an additional 1,137,482 shares during the last quarter. Finally, First Light Asset Management LLC increased its position in shares of Guardant Health by 119.7% in the 2nd quarter. First Light Asset Management LLC now owns 416,967 shares of the company's stock valued at $12,042,000 after acquiring an additional 227,202 shares during the period. 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.