681,074 Shares in Guardant Health, Inc. (NASDAQ:GH) Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC purchased a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 681,074 shares of the company's stock, valued at approximately $15,624,000. Lord Abbett & CO. LLC owned approximately 0.55% of Guardant Health as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake 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 valued at $232,325,000 after purchasing an additional 6,618,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position 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 valued at $28,128,000 after buying an additional 1,137,482 shares during the last quarter. ARK Investment Management LLC boosted its stake in shares of 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 acquiring an additional 1,059,104 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Guardant Health during the 3rd quarter worth approximately $21,389,000. Finally, Two Sigma Advisers LP raised its stake in Guardant Health by 52.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,177,300 shares of the company's stock valued at $27,007,000 after acquiring an additional 406,500 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Trading Up 2.5 %

Shares of NASDAQ:GH traded up $0.86 during midday trading on Monday, hitting $35.62. 1,839,591 shares of the stock were exchanged, compared to its average volume of 2,038,397. The business's 50-day moving average price is $28.21 and its 200 day moving average price is $28.21. Guardant Health, Inc. has a 12 month low of $15.81 and a 12 month high of $38.53. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -8.40 and a beta of 1.26.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business had revenue of $191.48 million during the quarter, compared to the consensus estimate of $170.49 million. During the same period in the prior year, the firm earned ($0.73) EPS. The business's revenue for the quarter was up 33.9% compared to the same quarter last year. Analysts predict that Guardant Health, Inc. will post -3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GH shares. UBS Group increased their price target on shares of Guardant Health from $32.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. increased 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. Sanford C. Bernstein reduced their price target on Guardant Health from $40.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on Guardant Health from $32.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Leerink Partners dropped their target price on Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. Fifteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Guardant Health currently has an average rating of "Buy" and a consensus price target of $40.60.

Insider Buying and Selling

In related news, Director Meghan V. Joyce sold 2,896 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the sale, the director now directly owns 7,648 shares of the company's stock, valued at $228,675.20. The trade was a 27.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Musa Tariq sold 2,320 shares of the stock in a transaction that occurred on 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 owns 2,676 shares in the company, valued at approximately $93,660. The trade was a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,316 shares of company stock valued at $171,380 over the last 90 days. Company insiders own 5.50% 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.