Connor Clark & Lunn Investment Management Ltd. Invests $32.32 Million in Guardant Health, Inc. $GH

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Guardant Health, Inc. (NASDAQ:GH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 215,395 shares of the company’s stock, valued at approximately $32,316,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Guardant Health as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC raised its position in Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after purchasing an additional 25,831 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Guardant Health in the 1st quarter valued at about $274,000. Sei Investments Co. grew its position in shares of Guardant Health by 15.8% in the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after buying an additional 10,538 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Guardant Health by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock valued at $32,922,000 after buying an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Guardant Health by 56.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock valued at $5,800,000 after buying an additional 40,209 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Price Performance

NASDAQ GH opened at $163.18 on Tuesday. The business has a 50 day simple moving average of $154.58 and a 200 day simple moving average of $119.07. Guardant Health, Inc. has a one year low of $53.40 and a one year high of $176.58. The stock has a market capitalization of $21.90 billion, a P/E ratio of -46.76 and a beta of 1.60.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. Guardant Health’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.44) earnings per share. Equities analysts expect that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GH. Evercore reiterated an “outperform” rating and issued a $200.00 target price on shares of Guardant Health in a report on Monday, July 6th. JPMorgan Chase & Co. raised their price target on shares of Guardant Health from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Morgan Stanley boosted their price target on shares of Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Sanford C. Bernstein upped their price objective on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price objective on shares of Guardant Health in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and a consensus target price of $183.78.

Insider Buying and Selling

In other Guardant Health news, insider Terilyn J. Monroe sold 46,300 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total value of $7,645,056.00. Following the completion of the sale, the insider directly owned 22,979 shares in the company, valued at approximately $3,794,292.48. This trade represents a 66.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Freeman sold 63,605 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the completion of the sale, the insider owned 65,374 shares of the company’s stock, valued at $11,086,122.92. The trade was a 49.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 559,318 shares of company stock worth $83,882,733 over the last ninety days. 5.60% of the stock is owned by company insiders.

About Guardant Health

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.