Jennison Associates LLC Sells 1,411,038 Shares of Guardant Health, Inc. (NASDAQ:GH)

Jennison Associates LLC decreased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 74.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 479,846 shares of the company’s stock after selling 1,411,038 shares during the period. Jennison Associates LLC owned 0.41% of Guardant Health worth $12,980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CWM LLC boosted its stake in shares of Guardant Health by 137.1% during the 3rd quarter. CWM LLC now owns 984 shares of the company’s stock valued at $29,000 after purchasing an additional 569 shares in the last quarter. AE Wealth Management LLC purchased a new position in shares of Guardant Health during the 3rd quarter worth approximately $572,000. SG Americas Securities LLC purchased a new position in shares of Guardant Health during the 3rd quarter worth approximately $818,000. Handelsbanken Fonder AB raised its position in shares of Guardant Health by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 122,441 shares of the company’s stock worth $3,629,000 after acquiring an additional 8,341 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Guardant Health by 81.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 25,684 shares of the company’s stock valued at $761,000 after purchasing an additional 11,498 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Transactions at Guardant Health

In other news, insider Kumud Kalia purchased 2,187 shares of the business’s stock in a transaction on Monday, March 18th. The stock was acquired at an average cost of $17.82 per share, for a total transaction of $38,972.34. Following the purchase, the insider now directly owns 12,722 shares in the company, valued at approximately $226,706.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Piper Sandler dropped their target price on shares of Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. Canaccord Genuity Group dropped their price target on Guardant Health from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. The Goldman Sachs Group reduced their price objective on Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 15th. JPMorgan Chase & Co. lowered their price objective on Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, Guggenheim reissued a “neutral” rating on shares of Guardant Health in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.27.

Guardant Health Price Performance

GH opened at $17.16 on Friday. The company’s 50-day simple moving average is $18.94 and its two-hundred day simple moving average is $23.00. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. The stock has a market capitalization of $2.09 billion, a P/E ratio of -4.01 and a beta of 0.87. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $41.06.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.65). Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. The company had revenue of $155.05 million for the quarter, compared to analysts’ expectations of $151.71 million. As a group, analysts predict that Guardant Health, Inc. will post -3.49 EPS for the current year.

Guardant Health 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.