Guardant Health (NASDAQ:GH) Shares Up 5.4% – Should You Buy?

Guardant Health, Inc. (NASDAQ:GH)’s share price was up 5.4% on Tuesday . The stock traded as high as $175.74 and last traded at $176.8570. Approximately 939,987 shares were traded during mid-day trading, a decline of 58% from the average session volume of 2,247,558 shares. The stock had previously closed at $167.84.

Analysts Set New Price Targets

GH has been the subject of several research reports. Evercore reiterated an “outperform” rating and issued a $200.00 target price on shares of Guardant Health in a research report on Monday, July 6th. Royal Bank Of Canada lifted their price objective on shares of Guardant Health from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Guardant Health from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wolfe Research initiated coverage on shares of Guardant Health in a report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price on the stock. Finally, Citigroup raised their price target on shares of Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and a consensus price target of $188.12.

Guardant Health Trading Down 0.4%

The business has a 50-day moving average price of $160.33 and a 200 day moving average price of $126.47. The company has a market cap of $23.47 billion, a price-to-earnings ratio of -50.11 and a beta of 1.57.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to the consensus estimate of $314.23 million. The business’s revenue was up 44.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) earnings per share. On average, analysts anticipate that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ian Clark sold 14,180 shares of Guardant Health stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total value of $2,253,485.60. Following the transaction, the director owned 2,975 shares of the company’s stock, valued at approximately $472,787. This trade represents a 82.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Freeman sold 63,605 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $169.58, for a total value of $10,786,135.90. Following the sale, the insider owned 65,374 shares in the company, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 426,908 shares of company stock worth $67,098,183 over the last three months. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Guardant Health by 12.4% during the 2nd quarter. Allworth Financial LP now owns 1,072 shares of the company’s stock worth $161,000 after buying an additional 118 shares in the last quarter. GAMMA Investing LLC increased its position in Guardant Health by 14.5% in the second quarter. GAMMA Investing LLC now owns 965 shares of the company’s stock worth $145,000 after purchasing an additional 122 shares during the period. First Pacific Financial lifted its position in Guardant Health by 33.1% during the 1st quarter. First Pacific Financial now owns 559 shares of the company’s stock valued at $52,000 after purchasing an additional 139 shares during the period. ABS Investment Management LLC acquired a new stake in shares of Guardant Health during the 2nd quarter worth approximately $345,069,000. Finally, MCF Advisors LLC lifted its holdings in Guardant Health by 755.0% in the second quarter. MCF Advisors LLC now owns 171 shares of the company’s stock valued at $26,000 after buying an additional 151 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Company Profile

Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company’s products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.