Sumitomo Mitsui Trust Group Inc. Grows Position in Guardant Health, Inc. (NASDAQ:GH)

Sumitomo Mitsui Trust Group Inc. boosted its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 1,282.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,226,176 shares of the company's stock after purchasing an additional 1,137,482 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 1.00% of Guardant Health worth $28,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Swiss National Bank increased its position in shares of Guardant Health by 3.3% during the first quarter. Swiss National Bank now owns 227,700 shares of the company's stock worth $4,697,000 after acquiring an additional 7,300 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Guardant Health by 254.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 114,125 shares of the company's stock worth $2,354,000 after purchasing an additional 81,887 shares in the last quarter. First Light Asset Management LLC increased its holdings in Guardant Health by 119.7% during the 2nd quarter. First Light Asset Management LLC now owns 416,967 shares of the company's stock worth $12,042,000 after purchasing an additional 227,202 shares during the period. International Assets Investment Management LLC increased its holdings in Guardant Health by 2,193.9% during the 3rd quarter. International Assets Investment Management LLC now owns 10,208 shares of the company's stock worth $2,340,000 after purchasing an additional 9,763 shares during the period. Finally, Sei Investments Co. bought a new stake in Guardant Health during the 2nd quarter valued at $831,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Analysts Set New Price Targets

GH has been the topic of several research reports. BTIG Research raised their price target on Guardant Health from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Guardant Health from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on shares of Guardant Health from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Citigroup upped their target price on Guardant Health from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Finally, Craig Hallum boosted their price target on Guardant Health from $28.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Guardant Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.60.

Guardant Health Trading Down 3.6 %

Shares of GH stock traded down $1.10 during trading hours on Friday, reaching $29.11. 3,002,172 shares of the company's stock were exchanged, compared to its average volume of 2,085,593. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $37.04. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.22 and a quick ratio of 5.85. The stock's fifty day moving average price is $23.68 and its two-hundred day moving average price is $26.47.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results 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 company had revenue of $191.48 million for the quarter, compared to analysts' expectations of $170.49 million. During the same period in the prior year, the firm posted ($0.73) EPS. The firm's revenue for the quarter was up 33.9% on a year-over-year basis. As a group, equities research analysts expect that Guardant Health, Inc. will post -3.38 EPS for the current year.

Insider Buying and Selling

In other news, Director Meghan V. Joyce sold 2,896 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the sale, the director now owns 7,648 shares in the company, valued at $228,675.20. This represents a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by company insiders.

About Guardant Health

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.