Guardant Health (NASDAQ:GH) Price Target Cut to $28.00 by Analysts at The Goldman Sachs Group

Guardant Health (NASDAQ:GH) had its target price cut by The Goldman Sachs Group from $32.00 to $28.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their target price on Guardant Health from $60.00 to $45.00 and set an overweight rating for the company in a report on Friday, February 23rd. Guggenheim reissued a neutral rating on shares of Guardant Health in a report on Friday, April 5th. Piper Sandler reduced their price objective on Guardant Health from $40.00 to $30.00 and set an overweight rating for the company in a report on Monday, February 26th. Finally, Canaccord Genuity Group reduced their price objective on Guardant Health from $50.00 to $45.00 and set a buy rating for the company in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $40.40.

Guardant Health Stock Performance

Shares of GH opened at $17.06 on Monday. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. The stock has a 50 day moving average price of $19.70 and a two-hundred day moving average price of $23.55. The firm has a market capitalization of $2.08 billion, a P/E ratio of -3.99 and a beta of 0.87. Guardant Health has a 52 week low of $16.92 and a 52 week high of $41.06.

Guardant Health (NASDAQ:GH) last released its earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.65). The business had revenue of $155.05 million during the quarter, compared to the consensus estimate of $151.71 million. Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. Equities analysts forecast that Guardant Health will post -3.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kumud Kalia bought 2,187 shares of the company’s stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $17.82 per share, for a total transaction of $38,972.34. Following the completion of the transaction, the insider now directly owns 12,722 shares in the company, valued at approximately $226,706.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently made changes to their positions in GH. US Bancorp DE raised its position in Guardant Health by 5.2% during the first quarter. US Bancorp DE now owns 12,808 shares of the company’s stock valued at $849,000 after purchasing an additional 632 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Guardant Health during the first quarter valued at about $385,000. Vontobel Holding Ltd. raised its position in Guardant Health by 20.3% during the first quarter. Vontobel Holding Ltd. now owns 16,548 shares of the company’s stock valued at $1,109,000 after purchasing an additional 2,797 shares in the last quarter. Bridgewater Associates LP raised its position in Guardant Health by 36.0% during the first quarter. Bridgewater Associates LP now owns 143,041 shares of the company’s stock valued at $9,475,000 after purchasing an additional 37,888 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Guardant Health by 186.3% during the first quarter. First Trust Advisors LP now owns 24,392 shares of the company’s stock valued at $1,616,000 after purchasing an additional 15,873 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.