Guardant Health (NASDAQ:GH) Stock Price Up 4.4%

Guardant Health, Inc. (NASDAQ:GH)’s stock price traded up 4.4% during mid-day trading on Tuesday . The stock traded as high as $24.83 and last traded at $24.81. 728,839 shares traded hands during trading, a decline of 65% from the average session volume of 2,074,812 shares. The stock had previously closed at $23.77.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America boosted their price target on Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Piper Sandler raised their target price on Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Stephens reiterated an “overweight” rating and issued a $44.00 target price on shares of Guardant Health in a report on Friday, May 24th. Guggenheim upgraded shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a report on Friday, June 28th. Finally, UBS Group upped their price objective on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.31.

Guardant Health Stock Up 2.9 %

The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40. The business’s fifty day moving average is $29.36 and its two-hundred day moving average is $24.75. The company has a market cap of $3.15 billion, a P/E ratio of -6.34 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. During the same quarter last year, the business earned ($0.67) earnings per share. Guardant Health’s revenue was up 29.2% on a year-over-year basis. Equities analysts predict that Guardant Health, Inc. will post -3.29 EPS for the current year.

Institutional Trading of Guardant Health

Several large investors have recently made changes to their positions in GH. Principal Financial Group Inc. raised its holdings in shares of Guardant Health by 10.5% in the 4th quarter. Principal Financial Group Inc. now owns 13,045 shares of the company’s stock valued at $353,000 after buying an additional 1,240 shares during the period. Oak Ridge Investments LLC raised its stake in Guardant Health by 8.5% during the 1st quarter. Oak Ridge Investments LLC now owns 18,540 shares of the company’s stock worth $382,000 after acquiring an additional 1,451 shares in the last quarter. Quarry LP acquired a new stake in shares of Guardant Health during the second quarter worth about $44,000. Ensign Peak Advisors Inc boosted its holdings in shares of Guardant Health by 4.5% in the second quarter. Ensign Peak Advisors Inc now owns 41,450 shares of the company’s stock valued at $1,197,000 after acquiring an additional 1,800 shares during the period. Finally, Canton Hathaway LLC acquired a new position in shares of Guardant Health in the 2nd quarter valued at $59,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

About Guardant Health

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.