Guardant Health’s (GH) Overweight Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Guardant Health (NASDAQ:GH) in a research report released on Friday morning, Benzinga reports. Stephens currently has a $44.00 target price on the stock.

GH has been the subject of a number of other research reports. Canaccord Genuity Group lowered their price target on Guardant Health from $45.00 to $30.00 and set a buy rating for the company in a research report on Monday, April 29th. The Goldman Sachs Group lowered their price target on shares of Guardant Health from $32.00 to $28.00 and set a buy rating for the company in a research report on Monday, April 15th. Craig Hallum started coverage on Guardant Health in a research note on Wednesday, April 24th. They issued a buy rating and a $28.00 price target on the stock. Piper Sandler lowered their price objective on Guardant Health from $40.00 to $30.00 and set an overweight rating for the company in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Guardant Health from $60.00 to $45.00 and set an overweight rating on the stock in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Guardant Health presently has a consensus rating of Moderate Buy and an average price target of $36.60.

Guardant Health Stock Performance

Shares of GH traded up $3.01 on Friday, reaching $25.52. 6,013,312 shares of the company’s stock traded hands, compared to its average volume of 2,226,444. The stock has a market cap of $3.12 billion, a PE ratio of -6.51 and a beta of 0.92. The stock’s 50 day simple moving average is $19.55 and its two-hundred day simple moving average is $22.20. The company has a current ratio of 5.95, a quick ratio of 5.66 and a debt-to-equity ratio of 16.70. Guardant Health has a 52-week low of $15.81 and a 52-week high of $41.06.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.65). Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. The company had revenue of $155.05 million during the quarter, compared to the consensus estimate of $151.71 million. On average, analysts forecast that Guardant Health will post -3.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kumud Kalia bought 2,187 shares of the stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $17.82 per share, for a total transaction of $38,972.34. Following the completion of the purchase, the insider now directly owns 12,722 shares of the company’s stock, valued at $226,706.04. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC increased its position in shares of Guardant Health by 362.3% during the fourth quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock valued at $64,000 after acquiring an additional 1,844 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Guardant Health by 29.4% in the 4th quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock valued at $73,000 after purchasing an additional 614 shares during the last quarter. Manchester Capital Management LLC purchased a new position in shares of Guardant Health during the 1st quarter worth approximately $57,000. Nisa Investment Advisors LLC boosted its stake in shares of Guardant Health by 26.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,450 shares of the company’s stock worth $102,000 after acquiring an additional 713 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Guardant Health during the 1st quarter worth approximately $75,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.