Wall Street brokerages predict that Guardant Health Inc (NASDAQ:GH) will post $63.63 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Guardant Health’s earnings. The lowest sales estimate is $56.30 million and the highest is $68.00 million. Guardant Health reported sales of $53.98 million during the same quarter last year, which indicates a positive year over year growth rate of 17.9%. The business is expected to issue its next quarterly earnings report on Tuesday, August 4th.
On average, analysts expect that Guardant Health will report full year sales of $283.85 million for the current year, with estimates ranging from $275.50 million to $295.12 million. For the next fiscal year, analysts forecast that the firm will post sales of $379.42 million, with estimates ranging from $351.00 million to $416.10 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Guardant Health.
Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, May 7th. The company reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.10. The business had revenue of $67.50 million during the quarter, compared to the consensus estimate of $55.45 million. Guardant Health had a negative net margin of 30.27% and a negative return on equity of 9.24%. The firm’s revenue was up 83.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) earnings per share.
A number of equities research analysts have recently weighed in on GH shares. Guggenheim started coverage on Guardant Health in a research note on Friday, February 21st. They set a “buy” rating and a $103.00 price target on the stock. Citigroup boosted their price target on Guardant Health from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. ValuEngine upgraded Guardant Health from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 17th. Zacks Investment Research lowered Guardant Health from a “buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, SVB Leerink restated a “buy” rating and set a $130.00 price target (up previously from $125.00) on shares of Guardant Health in a research note on Friday, May 8th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $114.29.
Shares of Guardant Health stock opened at $96.91 on Friday. The company has a market capitalization of $9.17 billion, a PE ratio of -116.76 and a beta of 0.58. The company has a 50-day simple moving average of $77.94 and a two-hundred day simple moving average of $77.28. Guardant Health has a one year low of $55.90 and a one year high of $112.21.
In other Guardant Health news, CFO Derek A. Bertocci sold 21,862 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $92.53, for a total value of $2,022,890.86. Following the completion of the transaction, the chief financial officer now directly owns 84,049 shares of the company’s stock, valued at $7,777,053.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Samir Kaul sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $82.38, for a total value of $2,059,500.00. Following the completion of the transaction, the director now directly owns 1,302 shares of the company’s stock, valued at $107,258.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 691,658 shares of company stock worth $55,477,241. 13.00% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in GH. FMR LLC lifted its holdings in Guardant Health by 28.3% in the first quarter. FMR LLC now owns 464,612 shares of the company’s stock valued at $35,636,000 after acquiring an additional 102,483 shares during the period. First Trust Advisors LP raised its stake in shares of Guardant Health by 0.4% during the 1st quarter. First Trust Advisors LP now owns 71,871 shares of the company’s stock worth $5,513,000 after buying an additional 264 shares during the period. State Street Corp raised its stake in shares of Guardant Health by 13.7% during the 3rd quarter. State Street Corp now owns 502,485 shares of the company’s stock worth $32,074,000 after buying an additional 60,666 shares during the period. IFP Advisors Inc raised its stake in shares of Guardant Health by 629.7% during the 4th quarter. IFP Advisors Inc now owns 1,350 shares of the company’s stock worth $107,000 after buying an additional 1,165 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of Guardant Health by 48.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,683 shares of the company’s stock worth $757,000 after buying an additional 3,166 shares during the period. 79.68% of the stock is owned by institutional investors.
About Guardant Health
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.
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