The Manufacturers Life Insurance Company Sells 28,746 Shares of Guardant Health, Inc. (NASDAQ:GH)

The Manufacturers Life Insurance Company cut its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 5.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 484,537 shares of the company's stock after selling 28,746 shares during the period. The Manufacturers Life Insurance Company owned about 0.39% of Guardant Health worth $11,115,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. JNBA Financial Advisors purchased a new position in shares of Guardant Health in the third quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in Guardant Health in the third quarter valued at approximately $34,000. Quarry LP purchased a new stake in shares of Guardant Health during the second quarter valued at approximately $44,000. Canton Hathaway LLC bought a new position in shares of Guardant Health in the second quarter worth approximately $59,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Guardant Health during the 2nd quarter valued at $71,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Guardant Health Trading Down 1.3 %

Shares of GH stock traded down $0.47 on Tuesday, reaching $35.05. 246,573 shares of the stock were exchanged, compared to its average volume of 2,056,023. The firm has a 50 day moving average of $25.46 and a two-hundred day moving average of $27.43. The stock has a market cap of $4.33 billion, a P/E ratio of -8.38 and a beta of 1.25. Guardant Health, Inc. has a 1-year low of $15.81 and a 1-year high of $37.04. The company has a quick ratio of 5.85, a current ratio of 6.22 and a debt-to-equity ratio of 16.70.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GH shares. JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Guardant Health from $30.00 to $34.00 and gave the stock an "overweight" rating in a report on Tuesday, August 13th. UBS Group upped their price target on Guardant Health from $32.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Craig Hallum lifted their price objective on Guardant Health from $28.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Finally, TD Cowen raised their price target on shares of Guardant Health from $41.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.60.

Insider Activity

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the transaction, the director now owns 7,648 shares of the company's stock, valued at $228,675.20. This represents a 27.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.50% of the stock is currently owned by corporate 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.