Guardant Health (NASDAQ:GH) Stock Price Down 5.8%

Guardant Health, Inc. (NASDAQ:GHGet Free Report)’s stock price was down 5.8% on Monday . The company traded as low as $19.41 and last traded at $19.44. Approximately 598,160 shares changed hands during trading, a decline of 66% from the average daily volume of 1,751,690 shares. The stock had previously closed at $20.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler cut their price target on Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. Wolfe Research assumed coverage on Guardant Health in a report on Wednesday, December 13th. They set a “peer perform” rating on the stock. Guggenheim assumed coverage on Guardant Health in a report on Thursday, December 14th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. cut their price target on Guardant Health from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Finally, The Goldman Sachs Group cut their price target on Guardant Health from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, January 29th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.30.

Check Out Our Latest Analysis on GH

Guardant Health Trading Up 2.7 %

The business has a fifty day moving average of $20.41 and a 200-day moving average of $24.10. The company has a debt-to-equity ratio of 7.18, a current ratio of 6.54 and a quick ratio of 6.24.

Guardant Health (NASDAQ:GHGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.65). Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. The company had revenue of $155.05 million for the quarter, compared to the consensus estimate of $151.71 million. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Activity

In other Guardant Health news, insider Kumud Kalia bought 2,187 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was purchased at an average cost of $17.82 per share, with a total value of $38,972.34. Following the transaction, the insider now directly owns 12,722 shares in the company, valued at approximately $226,706.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Guardant Health by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock worth $301,084,000 after acquiring an additional 180,424 shares during the last quarter. Baillie Gifford & Co. purchased a new stake in Guardant Health in the 4th quarter worth about $167,137,000. Capital International Investors increased its holdings in Guardant Health by 71.0% in the 1st quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock worth $336,607,000 after acquiring an additional 2,110,240 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Guardant Health by 35.2% in the 2nd quarter. Alliancebernstein L.P. now owns 4,463,669 shares of the company’s stock worth $159,799,000 after acquiring an additional 1,161,901 shares during the last quarter. Finally, Eventide Asset Management LLC boosted its stake in Guardant Health by 113.8% in the 2nd quarter. Eventide Asset Management LLC now owns 4,008,602 shares of the company’s stock worth $143,508,000 after purchasing an additional 2,133,582 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Guardant Health

(Get Free Report)

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.

Read More

Receive News & Ratings for Guardant Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Guardant Health and related companies with MarketBeat.com's FREE daily email newsletter.