Guardant Health, Inc. (NASDAQ:GH) Stake Lowered by Cadian Capital Management LP

Cadian Capital Management LP lessened its stake in Guardant Health, Inc. (NASDAQ:GH) by 25.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,221,565 shares of the company’s stock after selling 1,786,409 shares during the quarter. Guardant Health accounts for 9.2% of Cadian Capital Management LP’s investment portfolio, making the stock its 2nd largest position. Cadian Capital Management LP’s holdings in Guardant Health were worth $159,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Guardant Health in the 4th quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new position in Guardant Health in the 4th quarter valued at about $43,000. Kimelman & Baird LLC purchased a new position in Guardant Health in the 4th quarter valued at about $58,000. NewEdge Advisors LLC boosted its stake in shares of Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after purchasing an additional 230 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Guardant Health in the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

GH opened at $46.85 on Monday. Guardant Health, Inc. has a 1-year low of $18.01 and a 1-year high of $52.92. The company has a 50-day moving average of $43.74 and a 200-day moving average of $38.36. The company has a market capitalization of $5.80 billion, a P/E ratio of -13.16 and a beta of 1.49.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.08. The firm had revenue of $203.47 million for the quarter, compared to analysts’ expectations of $189.91 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. Guardant Health’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.46) earnings per share. As a group, sell-side analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GH shares. JPMorgan Chase & Co. boosted their price target on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Barclays upped their target price on Guardant Health from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho initiated coverage on Guardant Health in a report on Thursday, April 10th. They issued an “outperform” rating and a $55.00 price target for the company. Stifel Nicolaus increased their price objective on shares of Guardant Health from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group raised their target price on shares of Guardant Health from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday. Twenty-one research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Guardant Health has a consensus rating of “Buy” and an average target price of $51.64.

Guardant Health Profile

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.