Osterweis Capital Management Inc. Buys New Position in Guardant Health, Inc. $GH

Osterweis Capital Management Inc. bought a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) in the second quarter, HoldingsChannel reports. The institutional investor bought 97,320 shares of the company’s stock, valued at approximately $14,601,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TrinityBridge Ltd purchased a new position in shares of Guardant Health during the 2nd quarter worth $45,000. Elyxium Wealth LLC bought a new stake in shares of Guardant Health during the 4th quarter valued at $35,000. Parallel Advisors LLC increased its stake in shares of Guardant Health by 164.7% in the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 219 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Guardant Health in the 2nd quarter worth $59,000. Finally, EFG International AG bought a new position in Guardant Health in the 4th quarter worth $41,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wolfe Research assumed coverage on Guardant Health in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price on the stock. Mizuho upped their price target on Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Royal Bank Of Canada raised their price objective on Guardant Health from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. UBS Group set a $150.00 price objective on Guardant Health in a research report on Wednesday, June 24th. Finally, BTIG Research lifted their price objective on Guardant Health from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One investment 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. According to MarketBeat, Guardant Health has an average rating of “Moderate Buy” and a consensus price target of $183.78.

Guardant Health Trading Down 4.4%

NASDAQ:GH opened at $163.18 on Tuesday. Guardant Health, Inc. has a 12-month low of $53.40 and a 12-month high of $176.58. The stock has a 50-day moving average price of $154.58 and a 200 day moving average price of $119.07. 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 posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analysts’ expectations of $314.23 million. During the same period in the prior year, the firm posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 44.3% on a year-over-year basis. On average, research analysts predict that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other news, insider Terilyn J. Monroe sold 46,300 shares of Guardant Health stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the sale, the insider owned 22,979 shares in the company, valued at $3,794,292.48. This trade represents a 66.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amirali Talasaz sold 37,500 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $169.16, for a total transaction of $6,343,500.00. Following the completion of the sale, the chief executive officer owned 37,500 shares in the company, valued at approximately $6,343,500. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 559,318 shares of company stock worth $83,882,733. Insiders own 5.60% of the company’s stock.

Guardant Health Company Profile

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.