Guardant Health (NASDAQ:GH) Shares Gap Up After Insider Buying Activity

Guardant Health, Inc. (NASDAQ:GH) shares gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $92.89, but opened at $97.20. Guardant Health shares last traded at $97.86, with a volume of 7,700 shares trading hands.

Specifically, CEO Helmy Eltoukhy purchased 54,500 shares of Guardant Health stock in a transaction that occurred on Tuesday, November 23rd. The shares were acquired at an average price of $94.36 per share, for a total transaction of $5,142,620.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stanley J. Meresman sold 4,934 shares of the stock in a transaction that occurred on Monday, October 11th. The stock was sold at an average price of $103.59, for a total transaction of $511,113.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,802 shares of company stock worth $1,676,327. Company insiders own 5.80% of the company’s stock.

GH has been the subject of several research reports. BTIG Research reissued a “buy” rating and issued a $159.00 price objective on shares of Guardant Health in a research note on Friday, November 5th. Zacks Investment Research raised shares of Guardant Health from a “sell” rating to a “hold” rating in a research note on Thursday, October 21st. TheStreet raised shares of Guardant Health from a “d” rating to a “c-” rating in a research note on Monday, October 4th. SVB Leerink dropped their price objective on shares of Guardant Health from $180.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, November 5th. Finally, Canaccord Genuity dropped their price objective on shares of Guardant Health from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 9th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Guardant Health has a consensus rating of “Buy” and an average target price of $168.55.

The company’s 50 day moving average price is $111.65 and its 200-day moving average price is $116.14. The stock has a market cap of $10.90 billion, a P/E ratio of -26.48 and a beta of 0.46. The company has a quick ratio of 15.33, a current ratio of 15.57 and a debt-to-equity ratio of 1.60.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, November 4th. The company reported ($1.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.16). Guardant Health had a negative return on equity of 44.55% and a negative net margin of 118.80%. The firm had revenue of $94.80 million for the quarter, compared to analyst estimates of $92.59 million. During the same quarter last year, the company earned ($0.78) earnings per share. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. Equities research analysts anticipate that Guardant Health, Inc. will post -4.21 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Sandy Spring Bank increased its position in shares of Guardant Health by 3,333.3% during the second quarter. Sandy Spring Bank now owns 206 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the period. Tsfg LLC grew its holdings in Guardant Health by 214.0% in the second quarter. Tsfg LLC now owns 314 shares of the company’s stock worth $39,000 after purchasing an additional 214 shares during the period. Berman Capital Advisors LLC grew its holdings in Guardant Health by 996.8% in the third quarter. Berman Capital Advisors LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 309 shares during the period. Daiwa Securities Group Inc. grew its holdings in Guardant Health by 74.4% in the third quarter. Daiwa Securities Group Inc. now owns 347 shares of the company’s stock worth $43,000 after purchasing an additional 148 shares during the period. Finally, FourThought Financial LLC grew its holdings in Guardant Health by 1,690.0% in the third quarter. FourThought Financial LLC now owns 358 shares of the company’s stock worth $44,000 after purchasing an additional 338 shares during the period. Institutional investors own 88.18% of the company’s stock.

About Guardant Health (NASDAQ:GH)

Guardant Health, Inc is a precision oncology company, which engages in treatment of cancer through use of proprietary blood-based tests, vast data sets, and advanced analytics. Its solutions include treatment selection, recurrence detection, and early detection. The company was founded by Helmy Eltoukhy, AmirAli H.

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