Sumitomo Mitsui Trust Group Inc. Has $47.12 Million Position in Guardant Health, Inc. $GH

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 62.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 754,154 shares of the company’s stock after selling 1,276,484 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.60% of Guardant Health worth $47,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC raised its position in shares of Guardant Health by 100.4% in the second quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock valued at $146,935,000 after purchasing an additional 1,414,381 shares during the period. Norges Bank acquired a new position in Guardant Health in the 2nd quarter valued at about $64,136,000. Franklin Resources Inc. raised its holdings in Guardant Health by 78.2% in the 2nd quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock valued at $120,730,000 after acquiring an additional 1,018,144 shares during the period. Invesco Ltd. lifted its position in 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 acquiring an additional 763,834 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in Guardant Health during the second quarter worth approximately $37,233,000. 92.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Guardant Health in a research note on Thursday, September 25th. Cowen reiterated a “buy” rating on shares of Guardant Health in a research report on Wednesday, January 7th. TD Cowen lifted their target price on Guardant Health from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Piper Sandler upped their price target on shares of Guardant Health from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Barclays lifted their price objective on shares of Guardant Health from $85.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Twenty-two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.81.

Guardant Health Stock Up 3.1%

GH opened at $111.98 on Friday. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of -34.88 and a beta of 1.58. Guardant Health, Inc. has a twelve month low of $34.88 and a twelve month high of $113.91. The company has a 50-day simple moving average of $103.08 and a 200 day simple moving average of $74.78.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.09. The company’s revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.88) earnings per share. Sell-side analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Activity

In other news, CTO Darya Chudova sold 5,451 shares of Guardant Health stock in a transaction on Monday, December 15th. The stock was sold at an average price of $104.04, for a total value of $567,122.04. Following the transaction, the chief technology officer owned 7,012 shares in the company, valued at approximately $729,528.48. This trade represents a 43.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Helmy Eltoukhy sold 90,565 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $103.82, for a total value of $9,402,458.30. Following the sale, the chief executive officer owned 2,047,143 shares of the company’s stock, valued at approximately $212,534,386.26. This represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 436,552 shares of company stock valued at $45,622,836. Corporate insiders own 6.10% of the company’s stock.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.