Guardant Health, Inc. (NASDAQ:GH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Guardant Health, Inc. (NASDAQ:GH) have been given an average rating of “Moderate Buy” by the sixteen research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $39.67.

Several research analysts recently commented on GH shares. Craig Hallum lifted their price target on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Piper Sandler boosted their target price on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Guggenheim upgraded Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Friday, June 28th. BTIG Research lifted their price objective on shares of Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, UBS Group increased their target price 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.

Guardant Health Stock Down 1.4 %

Shares of GH opened at $21.05 on Wednesday. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -5.37 and a beta of 1.11. Guardant Health has a 1 year low of $15.81 and a 1 year high of $37.04. The business’s 50 day simple moving average is $26.34 and its 200-day simple moving average is $25.44.

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 for the quarter, compared to analysts’ expectations of $162.59 million. During the same period in the previous year, the company earned ($0.67) EPS. Guardant Health’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, equities analysts expect that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently bought and sold shares of 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 purchasing an additional 1,240 shares in the last quarter. Oak Ridge Investments LLC raised its stake in Guardant Health by 8.5% in the first quarter. Oak Ridge Investments LLC now owns 18,540 shares of the company’s stock worth $382,000 after buying an additional 1,451 shares in the last quarter. Quarry LP purchased a new stake in Guardant Health during the second quarter worth $44,000. Green Alpha Advisors LLC boosted its position in Guardant Health by 23.6% during the 3rd quarter. Green Alpha Advisors LLC now owns 8,782 shares of the company’s stock valued at $201,000 after acquiring an additional 1,674 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in shares of Guardant Health by 4.5% in the 2nd 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. 92.60% of the stock is owned by 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.