Brokerages Set Guardant Health, Inc. (NASDAQ:GH) PT at $48.21

Guardant Health, Inc. (NASDAQ:GH) has been given an average rating of “Buy” by the nineteen brokerages that are covering the stock, Marketbeat.com reports. Nineteen analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $48.21.

Several research firms have recently commented on GH. Scotiabank upped their price objective on shares of Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Barclays began coverage on Guardant Health in a report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price objective for the company. Raymond James reaffirmed an “outperform” rating and set a $59.00 target price (up from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Stifel Nicolaus boosted their price target on Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Piper Sandler raised their price objective on shares of Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th.

Insider Activity

In related news, Director Musa Tariq sold 2,320 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the sale, the director now owns 2,676 shares of the company’s stock, valued at approximately $93,660. This represents a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 2,668 shares of company stock worth $95,208 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GH. NewEdge Advisors LLC lifted its holdings in shares of Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Guardant Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock valued at $377,000 after purchasing an additional 391 shares during the period. Arizona State Retirement System lifted its stake in Guardant Health by 1.1% during the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock worth $1,089,000 after purchasing an additional 403 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock worth $102,000 after buying an additional 796 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Guardant Health by 43.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock worth $82,000 after buying an additional 817 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $42.66 on Friday. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $50.89. The company has a market cap of $5.27 billion, a PE ratio of -11.98 and a beta of 1.50. The business has a 50-day simple moving average of $41.48 and a two-hundred day simple moving average of $32.19.

Guardant Health (NASDAQ:GH) last released its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The firm had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. On average, sell-side analysts predict that Guardant Health will post -2.9 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.