Iron Triangle Partners LP Purchases 100,000 Shares of Guardant Health, Inc. $GH

Iron Triangle Partners LP boosted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 33.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 400,000 shares of the company’s stock after purchasing an additional 100,000 shares during the period. Guardant Health comprises approximately 3.6% of Iron Triangle Partners LP’s investment portfolio, making the stock its 14th biggest position. Iron Triangle Partners LP’s holdings in Guardant Health were worth $24,992,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Emerald Advisers LLC increased its stake in shares of Guardant Health by 24.8% in the third quarter. Emerald Advisers LLC now owns 873,203 shares of the company’s stock valued at $54,558,000 after buying an additional 173,281 shares in the last quarter. Knights of Columbus Asset Advisors LLC bought a new position in shares of Guardant Health in the third quarter valued at about $1,554,000. Edgestream Partners L.P. lifted its position in Guardant Health by 147.3% during the 2nd quarter. Edgestream Partners L.P. now owns 50,519 shares of the company’s stock worth $2,629,000 after buying an additional 30,094 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Guardant Health by 54.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 301,449 shares of the company’s stock worth $18,835,000 after acquiring an additional 106,263 shares during the last quarter. Finally, State of Wyoming bought a new stake in Guardant Health during the 2nd quarter worth about $567,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Buying and Selling at Guardant Health

In related news, insider Terilyn J. Monroe sold 10,031 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $112.08, for a total value of $1,124,274.48. Following the completion of the transaction, the insider owned 20,990 shares of the company’s stock, valued at approximately $2,352,559.20. This trade represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Medina Manuel Hidalgo sold 1,300 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $91.54, for a total transaction of $119,002.00. Following the sale, the director directly owned 1,193 shares in the company, valued at $109,207.22. This trade represents a 52.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,018 shares of company stock valued at $2,232,911 in the last 90 days. 6.10% of the stock is currently owned by corporate insiders.

Guardant Health Price Performance

GH opened at $85.49 on Monday. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of -25.83 and a beta of 1.67. The business’s 50-day moving average price is $103.92 and its two-hundred day moving average price is $90.02. Guardant Health, Inc. has a 1 year low of $36.36 and a 1 year high of $120.74.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The company had revenue of $281.27 million during the quarter, compared to analyst estimates of $269.74 million. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.62) EPS. Sell-side analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Guardant Health from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. UBS Group reiterated a “buy” rating and issued a $175.00 price objective on shares of Guardant Health in a research report on Friday, January 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research note on Thursday, January 22nd. Piper Sandler boosted their target price on Guardant Health from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. upped their price target on Guardant Health from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Twenty-one research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and a consensus price target of $122.57.

About Guardant Health

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.