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Guggenheim Reaffirms "Buy" Rating for Guardant Health (NASDAQ:GH)

Guardant Health logo with Medical background

Guggenheim reissued their buy rating on shares of Guardant Health (NASDAQ:GH - Free Report) in a research note released on Wednesday,Benzinga reports.

A number of other brokerages have also recently issued reports on GH. The Goldman Sachs Group boosted their target price on shares of Guardant Health from $32.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Sanford C. Bernstein decreased their price objective on Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Guardant Health from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Finally, Leerink Partners cut their price target on shares of Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. Fifteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $40.60.

Check Out Our Latest Research Report on GH

Guardant Health Price Performance

Shares of NASDAQ GH traded up $2.07 during midday trading on Wednesday, reaching $47.20. The company's stock had a trading volume of 5,915,052 shares, compared to its average volume of 2,793,457. The stock has a market capitalization of $5.83 billion, a P/E ratio of -11.13 and a beta of 1.28. The firm has a 50 day moving average price of $34.53 and a 200-day moving average price of $29.26. Guardant Health has a 12-month low of $15.81 and a 12-month high of $49.86.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.33). The business 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 company's revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.73) earnings per share. On average, equities analysts predict that Guardant Health will post -3.44 EPS for the current year.

Insider Activity

In related news, Director Musa Tariq sold 2,320 shares of the 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 completion of the transaction, the director now directly owns 2,676 shares in the company, valued at $93,660. This trade represents a 46.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following the transaction, the director now directly owns 7,648 shares of the company's stock, valued at approximately $228,675.20. This trade represents a 27.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,548 shares of company stock valued at $179,782. Corporate insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Guardant Health

Several hedge funds have recently added to or reduced their stakes in GH. Lord Abbett & CO. LLC bought a new position in Guardant Health in the 3rd quarter valued at approximately $15,624,000. Cerity Partners LLC lifted its holdings in shares of Guardant Health by 54.6% during the third quarter. Cerity Partners LLC now owns 195,008 shares of the company's stock valued at $4,473,000 after purchasing an additional 68,883 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $64,754,000 after purchasing an additional 29,686 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position 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, Pier Capital LLC increased its holdings in Guardant Health by 36.7% in the 3rd quarter. Pier Capital LLC now owns 158,429 shares of the company's stock worth $3,634,000 after buying an additional 42,575 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Guardant Health (NASDAQ:GH)

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