Insider Selling: Guardant Health (NASDAQ:GH) Director Sells $117,256.40 in Stock

Guardant Health, Inc. (NASDAQ:GH) Director Medina Manuel Hidalgo sold 2,165 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $54.16, for a total transaction of $117,256.40. Following the transaction, the director directly owned 851 shares in the company, valued at $46,090.16. This trade represents a 71.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Guardant Health Stock Up 3.2%

Shares of Guardant Health stock opened at $57.19 on Thursday. The firm’s 50 day moving average price is $54.13 and its 200-day moving average price is $47.92. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $68.00. The company has a market cap of $7.13 billion, a P/E ratio of -17.07 and a beta of 1.46.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.08. The firm had revenue of $232.09 million during the quarter, compared to analysts’ expectations of $211.19 million. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in shares of Guardant Health by 27.3% during the second quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock worth $185,184,000 after buying an additional 763,834 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Guardant Health by 0.5% during the second quarter. Geode Capital Management LLC now owns 2,920,714 shares of the company’s stock worth $152,014,000 after buying an additional 13,088 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Guardant Health by 100.4% during the second quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock worth $146,935,000 after buying an additional 1,414,381 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Guardant Health by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,777,040 shares of the company’s stock worth $118,302,000 after buying an additional 164,263 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Guardant Health by 78.2% during the second quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock worth $120,730,000 after buying an additional 1,018,144 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GH. BTIG Research lifted their price objective on shares of Guardant Health from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Evercore ISI upgraded shares of Guardant Health to a “strong-buy” rating in a research note on Monday, July 14th. Mizuho lifted their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Scotiabank boosted their target price on shares of Guardant Health from $57.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Finally, Raymond James Financial boosted their target price on shares of Guardant Health from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the company. According to data from MarketBeat, Guardant Health presently has an average rating of “Buy” and a consensus price target of $58.24.

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.