Guardant Health (NASDAQ:GH) Trading Down 5.7% - Time to Sell?

Guardant Health, Inc. (NASDAQ:GH - Get Free Report)'s stock price dropped 5.7% during mid-day trading on Friday . The company traded as low as $47.38 and last traded at $47.11. Approximately 1,390,392 shares were traded during trading, a decline of 45% from the average daily volume of 2,542,415 shares. The stock had previously closed at $49.94.

Analyst Upgrades and Downgrades

GH has been the topic of several analyst reports. Guggenheim reaffirmed a "buy" rating on shares of Guardant Health in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Guardant Health from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their target price on Guardant Health from $36.00 to $49.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Barclays assumed coverage on Guardant Health in a research report on Thursday, January 23rd. They set an "overweight" rating and a $60.00 price target for the company. Finally, Sanford C. Bernstein cut their price objective on Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Sixteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $42.63.

Guardant Health Price Performance

The firm has a 50-day simple moving average of $37.47 and a 200-day simple moving average of $30.36. The firm has a market capitalization of $5.83 billion, a PE ratio of -11.12 and a beta of 1.32.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data 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). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The business had revenue of $191.48 million for the quarter, compared to the consensus estimate of $170.49 million. The company's revenue was up 33.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.73) EPS. Equities analysts expect that Guardant Health, Inc. will post -3.43 earnings per share for the current year.

Insider Buying and Selling

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health 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 sale, the director now directly owns 7,648 shares in the company, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Musa Tariq sold 2,320 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now owns 2,676 shares of the company's stock, valued at approximately $93,660. The trade was a 46.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,548 shares of company stock valued at $179,782. Company insiders own 5.50% of the company's stock.

Institutional Trading of Guardant Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. bought a new stake in Guardant Health in the second quarter worth about $831,000. Mackenzie Financial Corp bought a new position in Guardant Health in the 2nd quarter valued at $202,000. Creative Planning purchased a new stake in Guardant Health in the second quarter worth $593,000. Truist Financial Corp bought a new stake in shares of Guardant Health during the second quarter worth $233,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Guardant Health during the third quarter valued at $1,029,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

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.