Guardant Health, Inc. (NASDAQ:GH) Receives $48.40 Average PT from Analysts

Guardant Health, Inc. (NASDAQ:GH) has been assigned a consensus recommendation of “Buy” from the twenty analysts that are covering the firm, Marketbeat Ratings reports. Twenty research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $48.95.

A number of brokerages have weighed in on GH. Barclays began coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 target price for the company. Piper Sandler upped their price objective on Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Scotiabank lifted their target price on Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Canaccord Genuity Group upped their price target on Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Finally, Morgan Stanley lifted their price objective on Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th.

Guardant Health Price Performance

NASDAQ GH opened at $43.14 on Wednesday. The stock’s 50 day simple moving average is $44.66 and its 200 day simple moving average is $34.37. Guardant Health has a one year low of $15.81 and a one year high of $50.89. The firm has a market cap of $5.32 billion, a PE ratio of -12.12 and a beta of 1.50.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, February 20th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business had revenue of $201.81 million for the quarter, compared to the consensus estimate of $192.50 million. As a group, equities analysts expect that Guardant Health will post -2.9 earnings per share for the current year.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Guardant Health by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company’s stock valued at $368,205,000 after acquiring an additional 350,606 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Guardant Health by 188.6% in the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock valued at $232,325,000 after purchasing an additional 6,618,785 shares in the last quarter. Deep Track Capital LP boosted its position in shares of Guardant Health by 7.0% during the fourth quarter. Deep Track Capital LP now owns 6,419,566 shares of the company’s stock worth $196,118,000 after buying an additional 419,006 shares during the period. Eventide Asset Management LLC grew its holdings in shares of Guardant Health by 2.0% during the third quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock worth $88,028,000 after buying an additional 76,762 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Guardant Health by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock valued at $64,754,000 after buying an additional 29,686 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Guardant Health

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.