Segall Bryant & Hamill LLC Increases Position in Guardant Health, Inc. $GH

Segall Bryant & Hamill LLC increased its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 57.8% during the 3rd quarter, Holdings Channel reports. The firm owned 305,147 shares of the company’s stock after acquiring an additional 111,822 shares during the period. Segall Bryant & Hamill LLC’s holdings in Guardant Health were worth $19,066,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in Guardant Health in the 3rd quarter worth $38,000. Allworth Financial LP grew its position in shares of Guardant Health by 358.4% during the second quarter. Allworth Financial LP now owns 706 shares of the company’s stock worth $37,000 after purchasing an additional 552 shares in the last quarter. Optiver Holding B.V. grew its position in shares of Guardant Health by 153.5% during the third quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock worth $48,000 after purchasing an additional 465 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Guardant Health by 162.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,096 shares of the company’s stock valued at $68,000 after purchasing an additional 678 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in Guardant Health in the 3rd quarter worth approximately $78,000. Institutional investors own 92.60% of the company’s stock.

Guardant Health Trading Up 1.2%

Shares of NASDAQ GH opened at $93.30 on Wednesday. Guardant Health, Inc. has a 12-month low of $34.88 and a 12-month high of $120.74. The firm’s 50-day moving average price is $105.92 and its 200-day moving average price is $88.41. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of -28.19 and a beta of 1.67.

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

Insider Activity

In other Guardant Health news, Director Ian T. Clark sold 28,611 shares of Guardant Health stock in a transaction on Friday, December 5th. The shares were sold at an average price of $107.19, for a total transaction of $3,066,813.09. Following the completion of the transaction, the director directly owned 9,851 shares of the company’s stock, valued at $1,055,928.69. The trade was a 74.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Helmy Eltoukhy sold 90,565 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $103.82, for a total transaction of $9,402,458.30. Following the transaction, the chief executive officer owned 2,047,143 shares in the company, valued at $212,534,386.26. This trade represents a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 379,344 shares of company stock worth $39,734,840. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GH. Canaccord Genuity Group increased their price objective on shares of Guardant Health from $125.00 to $135.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wells Fargo & Company upped their target price on shares of Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Piper Sandler lifted their price target on shares of Guardant Health from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Citigroup boosted their price target on shares of Guardant Health from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a research report on Thursday, January 22nd. Twenty-one analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and an average 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.