Temasek Holdings Private Ltd Reduces Holdings in Guardant Health, Inc. (NASDAQ:GH)

Temasek Holdings Private Ltd decreased its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 44.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,088,194 shares of the company's stock after selling 1,660,908 shares during the period. Temasek Holdings Private Ltd owned about 1.69% of Guardant Health worth $47,903,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in Guardant Health by 1,282.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company's stock valued at $28,128,000 after purchasing an additional 1,137,482 shares during the period. ARK Investment Management LLC boosted its holdings in Guardant Health by 233.5% in the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company's stock valued at $34,701,000 after purchasing an additional 1,059,104 shares during the period. Erste Asset Management GmbH acquired a new position in Guardant Health in the third quarter valued at about $21,389,000. Bank of New York Mellon Corp boosted its stake in shares of Guardant Health by 31.8% during the second quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company's stock valued at $36,973,000 after purchasing an additional 309,157 shares in the last quarter. Finally, Railway Pension Investments Ltd increased its position in Guardant Health by 63.8% in the 2nd quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company's stock valued at $17,931,000 after acquiring an additional 241,800 shares during the period. Institutional investors own 92.60% of the company's stock.

Insider Buying and Selling at Guardant Health

In other Guardant Health 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 transaction of $86,590.40. Following the transaction, the director now directly owns 7,648 shares of the company's stock, valued at $228,675.20. This trade represents a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler increased their price target on Guardant Health from $30.00 to $34.00 and gave the stock an "overweight" rating in a report on Tuesday, August 13th. UBS Group boosted their price target 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. The Goldman Sachs Group boosted their price objective on Guardant Health from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Craig Hallum upped their price target on shares of Guardant Health from $28.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Finally, Citigroup lifted their price objective on shares of Guardant Health from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Guardant Health currently has an average rating of "Moderate Buy" and an average target price of $40.60.

Guardant Health Price Performance

Shares of GH stock traded down $0.10 during mid-day trading on Friday, hitting $37.01. The company had a trading volume of 858,922 shares, compared to its average volume of 2,052,039. The company has a market capitalization of $4.57 billion, a P/E ratio of -8.75 and a beta of 1.26. The stock's 50 day moving average price is $26.32 and its 200-day moving average price is $27.64. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $38.53. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.22 and a quick ratio of 5.85.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.33). The firm had revenue of $191.48 million for the quarter, compared to the consensus estimate of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company's revenue for the quarter was up 33.9% on a year-over-year basis. During the same period last year, the firm earned ($0.73) earnings per share. Equities research analysts forecast that Guardant Health, Inc. will post -3.38 earnings per share for the current year.

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.