Scotiabank Forecasts Strong Price Appreciation for Guardant Health (NASDAQ:GH) Stock

Guardant Health (NASDAQ:GH - Free Report) had its price target increased by Scotiabank from $47.00 to $52.00 in a research report report published on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other research analysts have also recently commented on the stock. The Goldman Sachs Group raised their target price on shares of Guardant Health from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Raymond James restated an "outperform" rating and set a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Sanford C. Bernstein cut their target price on Guardant Health from $40.00 to $35.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Guggenheim restated a "buy" rating and issued a $56.00 price target on shares of Guardant Health in a research report on Monday. Finally, Barclays started coverage on Guardant Health in a research note on Thursday, January 23rd. They issued an "overweight" rating and a $60.00 price target for the company. Nineteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Guardant Health currently has a consensus rating of "Buy" and an average price target of $48.21.

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Guardant Health Price Performance

GH traded down $1.08 during trading on Monday, hitting $42.11. The stock had a trading volume of 1,642,374 shares, compared to its average volume of 2,540,628. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of -11.83 and a beta of 1.32. The company has a 50 day moving average price of $40.87 and a 200-day moving average price of $31.89. Guardant Health has a one year low of $15.81 and a one year high of $50.89.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.15). Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The business had revenue of $201.81 million during the quarter, compared to the consensus estimate of $192.50 million. As a group, sell-side analysts predict that Guardant Health will post -2.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the stock in a transaction dated 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 in the company, valued at approximately $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 2,768 shares of company stock valued at $98,798. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Guardant Health by 188.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company's stock worth $232,325,000 after acquiring an additional 6,618,785 shares during the last quarter. Norges Bank acquired a new position in shares of Guardant Health during the fourth quarter worth $36,438,000. Two Sigma Advisers LP grew its stake in shares of Guardant Health by 96.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock worth $70,742,000 after purchasing an additional 1,138,300 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Guardant Health by 1,282.5% in the third 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 last quarter. Finally, ARK Investment Management LLC raised its position in Guardant Health by 233.5% during the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company's stock worth $34,701,000 after purchasing an additional 1,059,104 shares during the last quarter. Institutional investors and hedge funds 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.