Victory Capital Management Inc. trimmed its stake in Guardant Health Inc (NASDAQ:GH) by 27.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 605 shares of the company’s stock after selling 231 shares during the period. Victory Capital Management Inc.’s holdings in Guardant Health were worth $52,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of GH. Advantage Investment Management LLC boosted its position in shares of Guardant Health by 200.0% during the 2nd quarter. Advantage Investment Management LLC now owns 450 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Guardant Health in the 2nd quarter valued at about $62,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Guardant Health in the 2nd quarter valued at about $76,000. FNY Investment Advisers LLC lifted its position in Guardant Health by 7,816.7% in the 2nd quarter. FNY Investment Advisers LLC now owns 950 shares of the company’s stock valued at $82,000 after acquiring an additional 938 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Guardant Health in the 2nd quarter valued at about $83,000. Institutional investors and hedge funds own 81.40% of the company’s stock.
Guardant Health stock opened at $61.56 on Friday. Guardant Health Inc has a 52 week low of $31.01 and a 52 week high of $112.21. The company’s 50 day moving average price is $76.07 and its two-hundred day moving average price is $81.08. The stock has a market cap of $5.72 billion and a P/E ratio of -21.99.
Guardant Health (NASDAQ:GH) last posted its earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.21. Guardant Health had a negative net margin of 60.08% and a negative return on equity of 22.93%. The firm had revenue of $53.98 million for the quarter, compared to analysts’ expectations of $35.97 million. During the same quarter last year, the firm earned ($1.75) EPS. The company’s quarterly revenue was up 178.5% compared to the same quarter last year. As a group, sell-side analysts expect that Guardant Health Inc will post -1.27 EPS for the current fiscal year.
In other Guardant Health news, insider Richard B. Lanman sold 63,075 shares of Guardant Health stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $105.25, for a total transaction of $6,638,643.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ian T. Clark sold 9,683 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $89.75, for a total transaction of $869,049.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,934,867 shares of company stock worth $480,037,506. Insiders own 13.00% of the company’s stock.
Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Guardant Health from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Wednesday. Cowen set a $110.00 price target on shares of Guardant Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $125.00 price target (up previously from $96.00) on shares of Guardant Health in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Guardant Health from $90.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $104.40.
Guardant Health Profile
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.
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