Guardant Health (NASDAQ:GH) PT Lowered to $28.00 at The Goldman Sachs Group

Guardant Health (NASDAQ:GH) had its target price decreased by stock analysts at The Goldman Sachs Group from $32.00 to $28.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 55.21% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Piper Sandler decreased their target price on Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, February 26th. JPMorgan Chase & Co. decreased their target price on Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Guggenheim reissued a “neutral” rating on shares of Guardant Health in a research report on Friday, April 5th. Finally, Canaccord Genuity Group decreased their target price on Guardant Health from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

Guardant Health Stock Down 1.2 %

Shares of GH traded down $0.22 during trading hours on Monday, hitting $18.04. The company had a trading volume of 240,054 shares, compared to its average volume of 1,868,025. The firm has a fifty day moving average price of $19.78 and a 200-day moving average price of $23.64. 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 $2.20 billion, a price-to-earnings ratio of -4.22 and a beta of 0.87. Guardant Health has a 52-week low of $16.92 and a 52-week high of $41.06.

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

Insider Activity

In related news, insider Kumud Kalia acquired 2,187 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average cost of $17.82 per share, for a total transaction of $38,972.34. Following the purchase, the insider now owns 12,722 shares in the company, valued at approximately $226,706.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Guardant Health by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock valued at $301,084,000 after buying an additional 180,424 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of Guardant Health in the fourth quarter valued at $167,137,000. Capital International Investors grew its holdings in shares of Guardant Health by 71.0% in the first quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock valued at $336,607,000 after purchasing an additional 2,110,240 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Guardant Health by 35.2% in the second quarter. Alliancebernstein L.P. now owns 4,463,669 shares of the company’s stock valued at $159,799,000 after purchasing an additional 1,161,901 shares in the last quarter. Finally, Eventide Asset Management LLC grew its holdings in shares of Guardant Health by 113.8% in the second quarter. Eventide Asset Management LLC now owns 4,008,602 shares of the company’s stock valued at $143,508,000 after purchasing an additional 2,133,582 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.