Beck Bode LLC Acquires 65,794 Shares of Guardant Health, Inc. (NASDAQ:GH)

Beck Bode LLC boosted its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 32.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 269,390 shares of the company’s stock after purchasing an additional 65,794 shares during the period. Guardant Health accounts for about 1.6% of Beck Bode LLC’s holdings, making the stock its 26th largest position. Beck Bode LLC’s holdings in Guardant Health were worth $7,780,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Guardant Health in the 4th quarter worth about $25,520,000. Duality Advisers LP bought a new stake in Guardant Health in the first quarter worth about $1,154,000. Vanguard Group Inc. boosted its position in shares of Guardant Health by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock valued at $301,084,000 after buying an additional 180,424 shares during the period. Wellington Management Group LLP grew its stake in shares of Guardant Health by 24.1% during the fourth quarter. Wellington Management Group LLP now owns 834,084 shares of the company’s stock valued at $22,562,000 after buying an additional 161,986 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Guardant Health by 3.3% in the first quarter. Swiss National Bank now owns 227,700 shares of the company’s stock worth $4,697,000 after buying an additional 7,300 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GH has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Guardant Health in a report on Monday, June 3rd. They set a “buy” rating and a $32.00 price objective for the company. Craig Hallum boosted their target price 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. Piper Sandler raised their price target on shares of Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Stephens reissued an “overweight” rating and issued a $44.00 price objective on shares of Guardant Health in a research report on Friday, May 24th. Finally, TD Cowen raised their target price on shares of Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.31.

Guardant Health Stock Performance

Shares of GH opened at $25.09 on Wednesday. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70. The firm has a market cap of $3.07 billion, a PE ratio of -6.40 and a beta of 1.11. Guardant Health, Inc. has a 12 month low of $15.81 and a 12 month high of $37.04. The stock has a fifty day moving average price of $29.10 and a 200-day moving average price of $24.97.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The business had revenue of $177.24 million for the quarter, compared to analyst estimates of $162.59 million. Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The company’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.67) earnings per share. Equities research analysts predict that Guardant Health, Inc. will post -3.3 earnings per share for the current fiscal 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.