Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Guardant Health (NASDAQ:GH) had its price target lifted by equities research analysts at The Goldman Sachs Group from $36.00 to $49.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 2.30% from the company’s current price.

Several other brokerages have also issued reports on GH. JPMorgan Chase & Co. boosted their target price on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Leerink Partners decreased their target price 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. Sanford C. Bernstein cut their price target on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating on shares of Guardant Health in a report on Wednesday, January 22nd. Finally, Barclays started coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 target price on the stock. Sixteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $42.63.

Guardant Health Trading Up 2.0 %

Shares of NASDAQ:GH traded up $0.92 during midday trading on Tuesday, reaching $47.90. 218,529 shares of the company were exchanged, compared to its average volume of 2,513,354. The business’s fifty day moving average is $35.62 and its two-hundred day moving average is $29.68. Guardant Health has a one year low of $15.81 and a one year high of $49.86. The stock has a market cap of $5.92 billion, a PE ratio of -11.27 and a beta of 1.28.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The firm had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The firm’s revenue was up 33.9% on a year-over-year basis. During the same period last year, the company earned ($0.73) earnings per share. As a group, sell-side analysts expect that Guardant Health will post -3.44 EPS for the current year.

Insider Buying and Selling at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now owns 2,676 shares of the company’s stock, valued at $93,660. The trade was a 46.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the transaction, the director now directly owns 7,648 shares in the company, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,548 shares of company stock valued at $179,782. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Guardant Health

Several institutional investors and hedge funds have recently bought and sold shares of GH. Sei Investments Co. purchased a new stake in Guardant Health in the 2nd quarter worth $831,000. Thrivent Financial for Lutherans purchased a new stake in Guardant Health in the 2nd quarter worth $1,307,000. Xponance Inc. purchased a new stake in Guardant Health in the 2nd quarter worth $216,000. Mackenzie Financial Corp purchased a new stake in Guardant Health in the 2nd quarter worth $202,000. Finally, Algert Global LLC increased its holdings in Guardant Health by 23.2% in the 2nd quarter. Algert Global LLC now owns 90,220 shares of the company’s stock worth $2,606,000 after acquiring an additional 17,000 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.