Perigon Wealth Management LLC Buys New Position in Guardant Health, Inc. $GH

Perigon Wealth Management LLC bought a new stake in Guardant Health, Inc. (NASDAQ:GH) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 7,149 shares of the company’s stock, valued at approximately $1,073,000.

A number of other institutional investors have also recently made changes to their positions in GH. Persistent Asset Partners Ltd acquired a new stake in Guardant Health during the 2nd quarter worth approximately $641,000. OneDigital Investment Advisors LLC acquired a new position in shares of Guardant Health in the second quarter worth $345,000. Trivium Point Advisory LLC acquired a new position in shares of Guardant Health in the second quarter worth $819,000. Global Retirement Partners LLC purchased a new stake in shares of Guardant Health during the second quarter worth $59,000. Finally, State of Wyoming purchased a new stake in shares of Guardant Health during the second quarter worth $393,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GH. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 target price on shares of Guardant Health in a report on Friday, July 31st. Piper Sandler upped their price target on Guardant Health from $135.00 to $193.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. UBS Group set a $150.00 price target on Guardant Health in a research report on Wednesday, June 24th. Morgan Stanley upped their target price on shares of Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Citigroup raised their target price on shares of Guardant Health from $150.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $183.78.

Insider Transactions at Guardant Health

In related news, insider Terilyn J. Monroe sold 46,300 shares of Guardant Health stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the sale, the insider directly owned 22,979 shares in the company, valued at $3,794,292.48. This trade represents a 66.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $126.30, for a total value of $12,630,000.00. Following the transaction, the chief executive officer directly owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. The trade was a 4.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 546,224 shares of company stock worth $80,435,493. Insiders own 5.60% of the company’s stock.

Guardant Health Stock Performance

NASDAQ:GH opened at $160.12 on Wednesday. Guardant Health, Inc. has a 1 year low of $53.40 and a 1 year high of $176.58. The stock has a market cap of $21.49 billion, a P/E ratio of -45.88 and a beta of 1.60. The stock has a 50-day simple moving average of $151.74 and a 200-day simple moving average of $117.58.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. During the same period last year, the company earned ($0.44) earnings per share. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. On average, equities research analysts predict that Guardant Health, Inc. will post -2.98 EPS for the current year.

Guardant Health 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.