PDT Partners LLC Grows Position in Guardant Health, Inc. (NASDAQ:GH)

PDT Partners LLC raised its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 51.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,542 shares of the company’s stock after acquiring an additional 74,957 shares during the period. Guardant Health makes up approximately 0.4% of PDT Partners LLC’s holdings, making the stock its 24th biggest holding. PDT Partners LLC’s holdings in Guardant Health were worth $5,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Eventide Asset Management LLC lifted its holdings in shares of Guardant Health by 2.0% in the 3rd quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock valued at $88,028,000 after acquiring an additional 76,762 shares during the last quarter. ARK Investment Management LLC raised its position in Guardant Health by 233.5% during the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after purchasing an additional 1,059,104 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Guardant Health by 31.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock valued at $36,973,000 after purchasing an additional 309,157 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Guardant Health by 1,282.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock worth $28,128,000 after purchasing an additional 1,137,482 shares during the period. Finally, Railway Pension Investments Ltd increased its position in shares of Guardant Health by 63.8% during the 2nd quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company’s stock valued at $17,931,000 after purchasing an additional 241,800 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Insider Activity

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the transaction, the director now owns 7,648 shares in the company, valued at $228,675.20. The trade was a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group lifted their price objective on shares of Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. TD Cowen increased their price objective 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. Leerink Partners dropped their target price on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein reduced their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Guardant Health Price Performance

GH opened at $35.61 on Friday. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -8.40 and a beta of 1.11. The company has a current ratio of 6.22, a quick ratio of 5.85 and a debt-to-equity ratio of 16.70. Guardant Health, Inc. has a 12-month low of $15.81 and a 12-month high of $37.04. The business’s fifty day simple moving average is $25.00 and its 200-day simple moving average is $27.26.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The business had revenue of $191.48 million during the quarter, compared to analysts’ expectations 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 firm’s revenue was up 33.9% compared to the same quarter last year. During the same period last year, the company earned ($0.73) earnings per share. On average, equities research analysts anticipate that Guardant Health, Inc. will post -3.38 earnings per share for the current fiscal year.

Guardant Health Company 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.