Guardant Health, Inc. $GH Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 2.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,908,829 shares of the company’s stock after selling 259,191 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Guardant Health worth $744,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP grew its holdings in shares of Guardant Health by 358.4% in the 2nd quarter. Allworth Financial LP now owns 706 shares of the company’s stock worth $37,000 after acquiring an additional 552 shares during the period. Sound Income Strategies LLC purchased a new stake in Guardant Health during the third quarter worth $38,000. Smartleaf Asset Management LLC grew its holdings in Guardant Health by 162.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,096 shares of the company’s stock valued at $68,000 after purchasing an additional 678 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Guardant Health by 99.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,366 shares of the company’s stock worth $71,000 after buying an additional 681 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of Guardant Health in the 3rd quarter worth about $78,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GH has been the subject of several recent research reports. Barclays restated an “overweight” rating and set a $130.00 target price on shares of Guardant Health in a report on Friday. Guggenheim raised their price objective on shares of Guardant Health from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Stifel Nicolaus lifted their price objective on Guardant Health from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler reiterated an “overweight” rating on shares of Guardant Health in a report on Tuesday. Finally, Canaccord Genuity Group raised their price target on Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday. Twenty-one equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.67.

Insider Activity

In related news, CFO Michael Brian Bell sold 80,362 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $103.14, for a total transaction of $8,288,536.68. Following the transaction, the chief financial officer directly owned 28,052 shares in the company, valued at approximately $2,893,283.28. This represents a 74.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amirali Talasaz sold 100,000 shares of Guardant Health stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $105.05, for a total value of $10,505,000.00. Following the completion of the sale, the chief executive officer owned 168,223 shares of the company’s stock, valued at $17,671,826.15. This trade represents a 37.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 434,511 shares of company stock valued at $45,580,887 in the last three months. Company insiders own 6.10% of the company’s stock.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $94.42 on Tuesday. The firm has a market cap of $12.39 billion, a P/E ratio of -28.53 and a beta of 1.63. Guardant Health, Inc. has a 1 year low of $34.88 and a 1 year high of $120.74. The firm’s 50 day moving average price is $106.52 and its 200 day moving average price is $86.82.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The business had revenue of $281.27 million during the quarter, compared to the consensus estimate of $269.74 million. During the same period in the previous year, the business earned ($0.62) EPS. The business’s revenue was up 39.4% compared to the same quarter last year. As a group, equities analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current year.

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.