Mizuho Issues Positive Forecast for Guardant Health (NASDAQ:GH) Stock Price

Guardant Health (NASDAQ:GH) had its price target lifted by Mizuho from $60.00 to $65.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Barclays increased their price target on Guardant Health from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. TD Securities upped their price objective on Guardant Health from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Scotiabank restated an “outperform” rating on shares of Guardant Health in a research note on Monday, May 5th. Stifel Nicolaus upped their price objective on Guardant Health from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Raymond James restated an “outperform” rating and issued a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Twenty-one analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $53.76.

Guardant Health Stock Up 0.6%

Shares of NASDAQ:GH opened at $49.29 on Friday. Guardant Health has a twelve month low of $20.14 and a twelve month high of $52.92. The stock’s 50 day moving average is $43.72 and its 200-day moving average is $41.56. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of -13.85 and a beta of 1.37.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.08. The business had revenue of $203.47 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.46) EPS. Equities research analysts anticipate that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Guardant Health news, CEO Amirali Talasaz sold 1,680 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $50.00, for a total value of $84,000.00. Following the sale, the chief executive officer now owns 2,187,060 shares of the company’s stock, valued at $109,353,000. This trade represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 226,516 shares of company stock valued at $11,226,549. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Guardant Health

Several institutional investors and hedge funds have recently modified their holdings of the business. SVB Wealth LLC purchased a new position in shares of Guardant Health during the 1st quarter valued at about $54,000. SBI Securities Co. Ltd. purchased a new position in shares of Guardant Health during the 4th quarter valued at about $43,000. Kimelman & Baird LLC purchased a new position in shares of Guardant Health during the 4th quarter valued at about $58,000. NewEdge Advisors LLC raised its holdings 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 valued at $59,000 after buying an additional 230 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Guardant Health during the 4th quarter valued at about $61,000. Hedge funds and other institutional investors 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.