Guardant Health (NASDAQ:GH) Price Target Raised to $225.00

Guardant Health (NASDAQ:GH) had its target price hoisted by UBS Group from $175.00 to $225.00 in a report issued on Wednesday morning, Marketbeat reports. UBS Group currently has a buy rating on the stock.

GH has been the subject of several other reports. Evercore restated an “outperform” rating and set a $200.00 price objective on shares of Guardant Health in a research report on Monday, July 6th. Sanford C. Bernstein boosted their target price on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Canaccord Genuity Group increased their price target on shares of Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Wolfe Research initiated coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 price target for the company. Finally, Mizuho raised their price target on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and an average target price of $188.12.

Guardant Health Stock Performance

NASDAQ GH opened at $157.38 on Wednesday. The stock’s fifty day moving average is $159.72 and its two-hundred day moving average is $124.64. The firm has a market capitalization of $21.12 billion, a P/E ratio of -45.09 and a beta of 1.57. Guardant Health has a fifty-two week low of $53.40 and a fifty-two week high of $176.58.

Guardant Health (NASDAQ:GH) last issued its 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 company had revenue of $334.98 million during the quarter, compared to analysts’ expectations of $314.23 million. During the same quarter in the previous year, the company earned ($0.44) earnings per share. The firm’s quarterly revenue was up 44.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Guardant Health will post -2.98 EPS for the current year.

Insider Transactions at Guardant Health

In other Guardant Health news, insider Chris Freeman sold 63,605 shares of Guardant Health stock in a transaction dated Monday, August 10th. The shares were 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 directly owned 65,374 shares in the company, valued at $11,086,122.92. This trade represents a 49.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amirali Talasaz sold 37,500 shares of Guardant Health stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $169.16, for a total transaction of $6,343,500.00. Following the sale, the chief executive officer owned 37,500 shares of the company’s stock, valued at approximately $6,343,500. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 427,024 shares of company stock worth $67,113,285 in the last 90 days. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in Guardant Health by 56.5% during the first 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 in the last quarter. Empowered Funds LLC purchased a new position in shares of Guardant Health during the first quarter worth $274,000. Sei Investments Co. grew its stake in shares of Guardant Health by 15.8% in the second 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 in the last quarter. The Manufacturers Life Insurance Company grew 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company’s products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.