Guardant Health, Inc. $GH Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 16.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 474,033 shares of the company’s stock after selling 92,372 shares during the period. Victory Capital Management Inc.’s holdings in Guardant Health were worth $29,618,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Guardant Health during the 2nd quarter valued at approximately $64,136,000. Franklin Resources Inc. boosted its stake in shares of Guardant Health by 78.2% during the 2nd quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock valued at $120,730,000 after buying an additional 1,018,144 shares during the last quarter. Invesco Ltd. grew its position in shares of 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 buying an additional 763,834 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in Guardant Health by 49.6% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,030,428 shares of the company’s stock valued at $105,623,000 after acquiring an additional 673,438 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Guardant Health during the 3rd quarter valued at $39,523,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Trading Down 1.5%

Shares of NASDAQ:GH opened at $91.20 on Monday. The firm’s 50 day moving average is $105.29 and its two-hundred day moving average is $89.12. The firm has a market capitalization of $11.96 billion, a P/E ratio of -27.55 and a beta of 1.67. Guardant Health, Inc. has a 52 week low of $34.88 and a 52 week high of $120.74.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GH shares. Guggenheim boosted their target price on shares of Guardant Health from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Citigroup upped their price objective on Guardant Health from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 20th. UBS Group reiterated a “buy” rating and issued a $175.00 target price on shares of Guardant Health in a research report on Friday, January 30th. Morgan Stanley upped their price target on Guardant Health from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, December 1st. Finally, Leerink Partners raised their price target on Guardant Health from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Twenty-one equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and a consensus price target of $122.57.

Insiders Place Their Bets

In other news, insider Terilyn J. Monroe sold 10,031 shares of the stock in a transaction on Wednesday, January 7th. The stock was 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 represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Helmy Eltoukhy sold 90,565 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $103.82, for a total value of $9,402,458.30. Following the transaction, the chief executive officer directly owned 2,047,143 shares in the company, valued at $212,534,386.26. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 114,734 shares of company stock worth $12,083,490. 6.10% of the stock is owned by company insiders.

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.