abrdn plc Raises Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

abrdn plc lifted its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 47.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 552,473 shares of the company's stock after purchasing an additional 178,882 shares during the quarter. abrdn plc owned about 0.45% of Guardant Health worth $12,674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company's stock valued at $102,000 after purchasing an additional 796 shares in the last quarter. Quarry LP bought a new position in Guardant Health during the 2nd quarter valued at approximately $44,000. Green Alpha Advisors LLC raised its stake in Guardant Health by 23.6% during the third quarter. Green Alpha Advisors LLC now owns 8,782 shares of the company's stock valued at $201,000 after buying an additional 1,674 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in Guardant Health by 4.5% in the second quarter. Ensign Peak Advisors Inc now owns 41,450 shares of the company's stock worth $1,197,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new stake in shares of Guardant Health in the second quarter worth $59,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GH. Bank of America upped their price target on shares of Guardant Health from $28.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. UBS Group boosted their price objective on shares of Guardant Health from $32.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. Citigroup increased their target price on Guardant Health from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Leerink Partners reduced 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. Finally, BTIG Research upped their price target on Guardant Health from $45.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $40.00.

Guardant Health Price Performance

Shares of Guardant Health stock traded up $1.12 during trading hours on Friday, hitting $23.00. The company's stock had a trading volume of 1,989,181 shares, compared to its average volume of 2,037,268. The company has a market cap of $2.83 billion, a PE ratio of -5.62 and a beta of 1.11. The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40. The business has a 50 day moving average price of $23.15 and a two-hundred day moving average price of $25.65. Guardant Health, Inc. has a 12-month low of $15.81 and a 12-month high of $37.04.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.10). The business had revenue of $177.24 million during the quarter, compared to analysts' expectations of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The firm's revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.67) earnings per share. Analysts expect that Guardant Health, Inc. will post -3.31 earnings per share for the current fiscal 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.