Guardant Health (NASDAQ:GH) Now Covered by UBS Group

Investment analysts at UBS Group initiated coverage on shares of Guardant Health (NASDAQ:GH) in a research note issued on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $225.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 35.78% from the company’s previous close.

Other analysts have also issued reports about the stock. Mizuho increased their price target on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. BTIG Research restated a “buy” rating and set a $195.00 price objective on shares of Guardant Health in a research report on Wednesday, September 2nd. Evercore reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Guardant Health in a research note on Monday, July 6th. TD Cowen reissued a “buy” rating on shares of Guardant Health in a research report on Tuesday, August 25th. Finally, Guggenheim boosted their price target on Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.71.

Guardant Health Price Performance

Guardant Health stock traded up $4.72 during mid-day trading on Wednesday, reaching $165.71. The company had a trading volume of 126,538 shares, compared to its average volume of 2,269,408. The stock’s 50-day simple moving average is $160.27 and its 200-day simple moving average is $123.62. The company has a market capitalization of $22.24 billion, a P/E ratio of -47.54 and a beta of 1.57. Guardant Health has a 1 year low of $53.40 and a 1 year high of $176.58.

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

Insider Buying and Selling at Guardant Health

In related news, Director Medina Hidalgo sold 1,700 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $164.24, for a total value of $279,208.00. Following the completion of the transaction, the director directly owned 4,556 shares in the company, valued at approximately $748,277.44. This represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Amirali Talasaz sold 37,500 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $169.16, for a total value of $6,343,500.00. Following the transaction, the chief executive officer owned 37,500 shares in the company, valued at $6,343,500. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 427,024 shares of company stock valued at $67,113,285. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new stake in Guardant Health in the second quarter valued at approximately $2,570,000. Engineers Gate Manager LP raised its stake in Guardant Health by 20.0% during the second quarter. Engineers Gate Manager LP now owns 85,180 shares of the company’s stock worth $12,780,000 after purchasing an additional 14,179 shares during the period. IFP Advisors Inc raised its stake in Guardant Health by 82.7% during the second quarter. IFP Advisors Inc now owns 1,469 shares of the company’s stock worth $220,000 after purchasing an additional 665 shares during the period. Allworth Financial LP boosted its holdings in shares of Guardant Health by 12.4% in the 2nd quarter. Allworth Financial LP now owns 1,072 shares of the company’s stock valued at $161,000 after purchasing an additional 118 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Guardant Health by 8.6% in the 2nd quarter. Arizona State Retirement System now owns 33,479 shares of the company’s stock valued at $5,023,000 after purchasing an additional 2,651 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.