Sumitomo Mitsui Trust Group Inc. Raises Holdings in Guardant Health, Inc. (NASDAQ:GH)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,464,213 shares of the company's stock after acquiring an additional 238,037 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.19% of Guardant Health worth $44,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Lord Abbett & CO. LLC purchased a new stake in Guardant Health in the third quarter worth $15,624,000. Cerity Partners LLC increased its position in Guardant Health by 54.6% in the third quarter. Cerity Partners LLC now owns 195,008 shares of the company's stock worth $4,473,000 after buying an additional 68,883 shares during the last quarter. Geode Capital Management LLC increased its position in Guardant Health by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company's stock worth $64,754,000 after buying an additional 29,686 shares during the last quarter. Pier Capital LLC increased its position in Guardant Health by 36.7% in the third quarter. Pier Capital LLC now owns 158,429 shares of the company's stock worth $3,634,000 after buying an additional 42,575 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position 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 last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Musa Tariq sold 2,320 shares of the company's stock in a transaction dated 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 directly owns 2,676 shares in the company, valued at approximately $93,660. This represents a 46.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,652 shares of company stock worth $93,192 in the last ninety days. 5.50% of the stock is currently owned by insiders.

Guardant Health Price Performance

NASDAQ GH traded up $1.14 during trading on Friday, reaching $48.12. The company's stock had a trading volume of 2,129,865 shares, compared to its average volume of 2,463,092. The stock has a market capitalization of $5.95 billion, a PE ratio of -11.35 and a beta of 1.32. The firm has a fifty day moving average of $39.02 and a 200 day moving average of $31.12. Guardant Health, Inc. has a one year low of $15.81 and a one year high of $50.89.

Analysts Set New Price Targets

GH has been the subject of a number of recent research reports. Barclays initiated coverage on Guardant Health in a research report on Thursday, January 23rd. They issued an "overweight" rating and a $60.00 target price for the company. The Goldman Sachs Group lifted their price target on Guardant Health from $36.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Leerink Partners reduced their price target on Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. 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 report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Guardant Health from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Sixteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $42.63.

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.