Wellington Management Group LLP Reduces Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

Wellington Management Group LLP decreased its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 52.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,850,271 shares of the company's stock after selling 5,277,257 shares during the quarter. Wellington Management Group LLP owned 3.93% of Guardant Health worth $148,176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in Guardant Health during the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new position in Guardant Health during the fourth quarter valued at approximately $43,000. Kimelman & Baird LLC purchased a new stake in Guardant Health in the fourth quarter worth approximately $58,000. Quantbot Technologies LP bought a new stake in Guardant Health in the 4th quarter worth approximately $80,000. Finally, Jones Financial Companies Lllp raised its stake in Guardant Health by 43.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company's stock valued at $82,000 after buying an additional 817 shares during the last quarter. Institutional investors own 92.60% of the company's stock.

Guardant Health Trading Up 0.4 %

Shares of NASDAQ:GH traded up $0.18 during mid-day trading on Tuesday, reaching $41.96. The stock had a trading volume of 583,568 shares, compared to its average volume of 2,120,468. The company has a market cap of $5.18 billion, a P/E ratio of -11.78 and a beta of 1.45. The business's 50 day moving average price is $44.28 and its 200 day moving average price is $35.07. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $50.89.

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Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $201.81 million for the quarter, compared to analysts' expectations of $192.50 million. Analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stifel Nicolaus increased their target price on Guardant Health from $45.00 to $53.00 and gave the company a "buy" rating in a report on Friday, February 21st. Morgan Stanley raised their price objective on shares of Guardant Health from $42.00 to $52.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Raymond James reaffirmed an "outperform" rating and set a $59.00 target price (up from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Piper Sandler lifted their price target on shares of Guardant Health from $34.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Guggenheim restated a "buy" rating and issued a $56.00 price objective on shares of Guardant Health in a research note on Monday, February 24th. Twenty research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $48.95.

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.