Sanford C. Bernstein Cuts Guardant Health (NASDAQ:GH) Price Target to $35.00

Guardant Health (NASDAQ:GH) had its target price lowered by Sanford C. Bernstein from $40.00 to $35.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also commented on GH. Craig Hallum lifted their price objective on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Piper Sandler lifted their price objective on Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Leerink Partners lowered their price objective on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Bank of America boosted their target price on Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Guardant Health Stock Performance

Guardant Health stock opened at $23.00 on Wednesday. The stock has a 50-day simple moving average of $23.27 and a 200 day simple moving average of $25.61. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. Guardant Health has a 12-month low of $15.81 and a 12-month high of $37.04. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -5.62 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The business had revenue of $177.24 million during the quarter, compared to the consensus estimate of $162.59 million. During the same period in the prior year, the firm earned ($0.67) earnings per share. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, research analysts anticipate that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

Several institutional investors have recently bought and sold shares of GH. ARK Investment Management LLC lifted its stake in Guardant Health by 233.5% in the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after acquiring an additional 1,059,104 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Guardant Health in the 1st quarter valued at approximately $8,300,000. Bank of New York Mellon Corp lifted its stake in Guardant Health by 31.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock valued at $36,973,000 after acquiring an additional 309,157 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Guardant Health by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock worth $235,925,000 after purchasing an additional 305,372 shares in the last quarter. Finally, Railway Pension Investments Ltd raised its stake in shares of Guardant Health by 63.8% during the 2nd quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company’s stock worth $17,931,000 after purchasing an additional 241,800 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.