KLP Kapitalforvaltning AS Purchases Shares of 24,800 Guardant Health, Inc. (NASDAQ:GH)

KLP Kapitalforvaltning AS bought a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,800 shares of the company's stock, valued at approximately $758,000.

Several other large investors also recently modified their holdings of GH. Wellington Management Group LLP raised its holdings in Guardant Health by 188.6% in the 3rd 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. Geode Capital Management LLC increased its position 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 buying an additional 29,686 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Guardant Health by 19.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after buying an additional 238,037 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in Guardant Health by 15.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after buying an additional 197,729 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in Guardant Health by 52.7% in the third quarter. Two Sigma Advisers LP now owns 1,177,300 shares of the company's stock worth $27,007,000 after buying an additional 406,500 shares during the period. 92.60% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus raised their target price on Guardant Health from $45.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group raised their price objective on Guardant Health from $49.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Canaccord Genuity Group upped 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. Piper Sandler increased their price target on shares of Guardant Health from $34.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Twenty equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $48.95.

Guardant Health Stock Performance

Shares of GH traded down $1.44 during mid-day trading on Friday, hitting $40.58. 1,891,349 shares of the company traded hands, compared to its average volume of 2,127,084. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of -11.40 and a beta of 1.45. The stock has a 50-day moving average price of $44.39 and a two-hundred day moving average price of $34.89. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 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 for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.15). The company had revenue of $201.81 million for the quarter, compared to analysts' expectations of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. On average, analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

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.