Oak Ridge Investments LLC Decreases Holdings in Guardant Health, Inc. $GH

Oak Ridge Investments LLC cut its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 5.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,178 shares of the company’s stock after selling 743 shares during the quarter. Oak Ridge Investments LLC’s holdings in Guardant Health were worth $738,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Guardant Health by 50.5% during the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock worth $33,000 after acquiring an additional 213 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Guardant Health by 120.1% in the second quarter. IFP Advisors Inc now owns 612 shares of the company’s stock worth $33,000 after buying an additional 334 shares during the period. SVB Wealth LLC purchased a new position in shares of Guardant Health in the first quarter worth $54,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Guardant Health in the first quarter worth $97,000. Finally, CWM LLC increased its stake in shares of Guardant Health by 180.3% in the first quarter. CWM LLC now owns 2,296 shares of the company’s stock worth $98,000 after buying an additional 1,477 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Medina Manuel Hidalgo sold 2,165 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $54.16, for a total transaction of $117,256.40. Following the sale, the director owned 851 shares in the company, valued at approximately $46,090.16. The trade was a 71.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Helmy Eltoukhy sold 300,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the sale, the chief executive officer owned 2,123,499 shares in the company, valued at approximately $126,242,015.55. This trade represents a 12.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,691 shares of company stock worth $17,981,965. Company insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Guardant Health from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Raymond James Financial lifted their target price on shares of Guardant Health from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Leerink Partners lifted their target price on shares of Guardant Health from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, September 25th. Stifel Nicolaus set a $73.00 price target on shares of Guardant Health in a report on Thursday, September 25th. Finally, Cowen reiterated a “buy” rating on shares of Guardant Health in a report on Thursday, September 25th. Twenty-three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.86.

Guardant Health Stock Down 1.6%

NASDAQ:GH opened at $64.22 on Monday. The stock has a market cap of $8.01 billion, a P/E ratio of -19.17 and a beta of 1.53. The firm’s fifty day simple moving average is $59.43 and its 200 day simple moving average is $50.21. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $68.00.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.08. The company had revenue of $232.09 million during the quarter, compared to the consensus estimate of $211.19 million. During the same quarter last year, the firm earned ($0.84) EPS. The business’s revenue was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. On average, analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

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.