Norges Bank Invests $36.44 Million in Guardant Health, Inc. (NASDAQ:GH)

Norges Bank acquired a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,192,742 shares of the company's stock, valued at approximately $36,438,000. Norges Bank owned 0.97% of Guardant Health at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Guardant Health during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new stake in Guardant Health during the fourth quarter worth about $43,000. Kimelman & Baird LLC purchased a new stake in Guardant Health during the fourth quarter worth about $58,000. Quantbot Technologies LP purchased a new stake in Guardant Health during the fourth quarter worth about $80,000. Finally, Jones Financial Companies Lllp grew its position in shares of Guardant Health by 43.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company's stock worth $82,000 after buying an additional 817 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Price Performance

NASDAQ:GH traded down $2.51 during mid-day trading on Thursday, reaching $41.36. The company's stock had a trading volume of 374,530 shares, compared to its average volume of 2,313,460. The company's fifty day simple moving average is $43.77 and its two-hundred day simple moving average is $35.41. Guardant Health, Inc. has a twelve month low of $15.81 and a twelve month high of $50.89. The stock has a market cap of $5.10 billion, a P/E ratio of -11.62 and a beta of 1.45.

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Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. Sell-side analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GH. JPMorgan Chase & Co. boosted their price objective on Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Barclays started coverage on Guardant Health in a research report on Thursday, January 23rd. They set an "overweight" rating and a $60.00 price objective for the company. Morgan Stanley upped their price target on Guardant Health from $42.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Guggenheim reiterated a "buy" rating and issued a $56.00 price objective on shares of Guardant Health in a research note on Monday, February 24th. Finally, Scotiabank boosted their price objective 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-one investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Guardant Health has an average rating of "Buy" and an average price target of $49.24.

Guardant Health 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.