Guardant Health (NASDAQ:GH) Stock Gets Price Target Trim from Piper Sandler

Guardant Health (NASDAQ:GH) had its target price decreased by Piper Sandler from $193.00 to $190.00 in a research note issued to investors on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on GH. Guggenheim increased their price target on Guardant Health from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. JPMorgan Chase & Co. upped their price objective on Guardant Health from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Morgan Stanley upped their price objective on Guardant Health from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Mizuho raised their target price on Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Stephens lifted their target price on Guardant Health from $170.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.88.

Guardant Health Trading Up 0.1%

GH stock opened at $154.86 on Tuesday. The firm’s 50-day moving average is $168.83 and its two-hundred day moving average is $132.81. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of -42.08 and a beta of 1.67. Guardant Health has a 52 week low of $74.55 and a 52 week high of $191.05.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.46. The company had revenue of $360.98 million during the quarter, compared to the consensus estimate of $350.72 million. During the same quarter last year, the business earned ($0.74) earnings per share. The company’s revenue was up 36.1% on a year-over-year basis. On average, equities research analysts predict that Guardant Health will post -3.08 earnings per share for the current year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Steve E. Krognes sold 6,674 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $175.74, for a total value of $1,172,888.76. Following the transaction, the director owned 7,906 shares of the company’s stock, valued at approximately $1,389,400.44. This represents a 45.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alex M. Azar II sold 826 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $175.00, for a total value of $144,550.00. Following the sale, the director owned 825 shares of the company’s stock, valued at $144,375. This trade represents a 50.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 53,155 shares of company stock valued at $9,107,025. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds have recently modified their holdings of the stock. First Trust Advisors LP increased its stake in Guardant Health by 182.8% in the 3rd quarter. First Trust Advisors LP now owns 334,312 shares of the company’s stock valued at $59,628,000 after buying an additional 216,112 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Guardant Health during the 3rd quarter valued at $892,000. Private Advisor Group LLC acquired a new stake in shares of Guardant Health during the 3rd quarter valued at $233,000. OneAscent Financial Services LLC acquired a new stake in shares of Guardant Health during the 3rd quarter valued at $260,000. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Guardant Health by 55.4% during the 3rd quarter. Stephens Investment Management Group LLC now owns 395,281 shares of the company’s stock valued at $70,502,000 after acquiring an additional 140,971 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

About Guardant Health

Guardant Health is a precision oncology company that develops blood- and tissue-based tests to help guide cancer care. Founded in 2012 by Helmy Eltoukhy and AmirAli Talasaz, the company focuses on using genomic information to support cancer detection, treatment selection and disease monitoring. Its products include Guardant360 tests, which analyze tumor-related genetic changes to help inform treatment decisions, and Guardant Reveal, which is designed to detect residual or recurring cancer after treatment.