Guardant Health (NASDAQ:GH) Given New $49.00 Price Target at The Goldman Sachs Group

Guardant Health (NASDAQ:GH - Free Report) had its target price hoisted by The Goldman Sachs Group from $36.00 to $49.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Guardant Health Stock Down 5.9 %

Shares of NASDAQ:GH traded down $2.93 on Tuesday, reaching $47.01. 1,850,008 shares of the company's stock were exchanged, compared to its average volume of 2,563,585. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of -11.09 and a beta of 1.28. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $50.89. The business's 50-day moving average is $36.68 and its two-hundred day moving average is $30.06.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly 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 firm had revenue of $191.48 million for 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 firm's revenue was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.73) EPS. Analysts predict that Guardant Health will post -3.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of the firm's stock in a transaction 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 sale, the director now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Meghan V. Joyce sold 2,896 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the sale, the director now owns 7,648 shares in the company, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,548 shares of company stock worth $179,782 over the last 90 days. Insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently modified their holdings of GH. Sei Investments Co. bought a new position in Guardant Health in the second quarter worth $831,000. Thrivent Financial for Lutherans bought a new position in Guardant Health in the second quarter worth $1,307,000. Xponance Inc. bought a new position in Guardant Health in the second quarter worth $216,000. Mackenzie Financial Corp bought a new position in Guardant Health in the second quarter worth $202,000. Finally, Algert Global LLC lifted its position in Guardant Health by 23.2% in the second quarter. Algert Global LLC now owns 90,220 shares of the company's stock worth $2,606,000 after purchasing an additional 17,000 shares during the period. 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.