Guardant Health (NASDAQ:GH) Receives "Overweight" Rating from Stephens

Stephens restated their overweight rating on shares of Guardant Health (NASDAQ:GH - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $55.00 price objective on the stock.

A number of other equities research analysts also recently commented on GH. Canaccord Genuity Group lifted their target price on shares of Guardant Health from $42.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. raised their target price on shares of Guardant Health from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Morgan Stanley boosted their price target on shares of Guardant Health from $42.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Stifel Nicolaus upped their price objective on Guardant Health from $45.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Scotiabank upped their target price on Guardant Health from $47.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Monday, February 24th. Twenty research analysts have rated the stock with a buy rating, According to data from MarketBeat, Guardant Health currently has an average rating of "Buy" and an average price target of $48.95.

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Guardant Health Stock Performance

GH traded down $2.01 on Wednesday, reaching $43.14. The company had a trading volume of 1,168,890 shares, compared to its average volume of 2,167,286. The business has a 50 day simple moving average of $44.66 and a 200 day simple moving average of $34.30. Guardant Health has a 52-week low of $15.81 and a 52-week high of $50.89. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -12.12 and a beta of 1.50.

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

Hedge Funds Weigh In On Guardant Health

A number of large investors have recently added to or reduced their stakes in GH. Wellington Management Group LLP increased its position in shares of Guardant Health by 188.6% during the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company's stock worth $232,325,000 after purchasing an additional 6,618,785 shares in the last quarter. Norges Bank acquired a new position in Guardant Health during the fourth quarter worth about $36,438,000. Two Sigma Advisers LP raised its holdings in Guardant Health by 96.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock valued at $70,742,000 after acquiring an additional 1,138,300 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Guardant Health during the 3rd quarter worth approximately $21,389,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Guardant Health in the fourth quarter valued at approximately $26,673,000. 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.