The Goldman Sachs Group Cuts Guardant Health (NASDAQ:GH) Price Target to $28.00

Guardant Health (NASDAQ:GH) had its target price decreased by The Goldman Sachs Group from $32.00 to $28.00 in a research report sent to investors on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

GH has been the topic of a number of other research reports. Piper Sandler dropped their target price on Guardant Health from $40.00 to $30.00 and set an overweight rating on the stock in a report on Monday, February 26th. Guggenheim reaffirmed a neutral rating on shares of Guardant Health in a research report on Friday, April 5th. Canaccord Genuity Group lowered their price objective on Guardant Health from $50.00 to $45.00 and set a buy rating on the stock in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Guardant Health from $60.00 to $45.00 and set an overweight rating for the company in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $40.40.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $16.39 on Monday. The stock’s fifty day simple moving average is $19.46 and its 200 day simple moving average is $23.40. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -3.83 and a beta of 0.87. The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. Guardant Health has a 52-week low of $15.89 and a 52-week high of $41.06.

Guardant Health (NASDAQ:GH) last released its earnings results 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). The firm had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $151.71 million. Guardant Health had a negative return on equity of 301.94% and a negative net margin of 85.02%. As a group, sell-side analysts forecast that Guardant Health will post -3.49 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GH. CWM LLC increased its holdings in shares of Guardant Health by 137.1% during the third quarter. CWM LLC now owns 984 shares of the company’s stock worth $29,000 after buying an additional 569 shares in the last quarter. BluePath Capital Management LLC bought a new stake in Guardant Health during the 3rd quarter worth approximately $35,000. Acadian Asset Management LLC bought a new stake in Guardant Health during the 1st quarter worth approximately $37,000. Captrust Financial Advisors increased its holdings in Guardant Health by 33.2% during the 2nd quarter. Captrust Financial Advisors now owns 1,087 shares of the company’s stock valued at $44,000 after purchasing an additional 271 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in Guardant Health by 362.3% in the 4th quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock valued at $64,000 after purchasing an additional 1,844 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.