Guardant Health (NASDAQ:GH) Reaches New 52-Week High – Here’s Why

Guardant Health, Inc. (NASDAQ:GH) reached a new 52-week high on Wednesday . The company traded as high as $38.53 and last traded at $37.87, with a volume of 1288721 shares trading hands. The stock had previously closed at $35.78.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TD Cowen raised their price target on Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group lifted their price objective on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Sanford C. Bernstein decreased their price objective on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their price objective on Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Guardant Health Stock Performance

The company has a 50-day simple moving average of $25.72 and a two-hundred day simple moving average of $27.50. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. The firm has a market capitalization of $4.71 billion, a P/E ratio of -8.44 and a beta of 1.26.

Guardant Health (NASDAQ:GH) last released its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The business had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. During the same quarter in the previous year, the business posted ($0.73) earnings per share. Guardant Health’s revenue for the quarter was up 33.9% on a year-over-year basis. As a group, equities analysts forecast that Guardant Health, Inc. will post -3.38 EPS for the current year.

Insider Activity

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the sale, the director now directly owns 7,648 shares in the company, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds have recently added to or reduced their stakes in the stock. JNBA Financial Advisors bought a new stake in shares of Guardant Health during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Guardant Health during the 3rd quarter valued at $34,000. Quarry LP bought a new stake in shares of Guardant Health during the 2nd quarter valued at $44,000. Canton Hathaway LLC bought a new stake in shares of Guardant Health during the 2nd quarter valued at $59,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Guardant Health during the 2nd quarter valued at $71,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Company 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.