Lord Abbett & CO. LLC Invests $15.62 Million in Guardant Health, Inc. (NASDAQ:GH)

Lord Abbett & CO. LLC bought a new position in Guardant Health, Inc. (NASDAQ:GH) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 681,074 shares of the company’s stock, valued at approximately $15,624,000.

A number of other institutional investors have also added to or reduced their stakes in GH. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Guardant Health by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock valued at $102,000 after purchasing an additional 796 shares during the period. JNBA Financial Advisors purchased a new position in Guardant Health during the 3rd quarter worth approximately $26,000. Wexford Capital LP lifted its stake in Guardant Health by 13.0% during the 3rd quarter. Wexford Capital LP now owns 10,081 shares of the company’s stock valued at $231,000 after acquiring an additional 1,158 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Guardant Health in the third quarter valued at $34,000. Finally, Quarry LP acquired a new stake in Guardant Health during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analysts Set New Price Targets

GH has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein lowered their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Leerink Partners cut their target price on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Fifteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $40.60.

Insider Buying and Selling

In related news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following the sale, the director now directly owns 7,648 shares in the company, valued at $228,675.20. This trade represents a 27.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.50% of the company’s stock.

Guardant Health Stock Down 0.5 %

Shares of GH opened at $34.76 on Monday. The stock has a market capitalization of $4.29 billion, a PE ratio of -8.20 and a beta of 1.26. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $38.53. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. The company’s 50-day simple moving average is $27.92 and its 200-day simple moving average is $28.16.

Guardant Health (NASDAQ:GH) last released its earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The company had revenue of $191.48 million for the quarter, compared to analyst estimates of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The company’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.73) earnings per share. Analysts forecast that Guardant Health, Inc. will post -3.44 earnings per share for the current fiscal 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.