Edgestream Partners L.P. Boosts Stock Holdings in Guardant Health, Inc. $GH

Edgestream Partners L.P. grew its holdings in Guardant Health, Inc. (NASDAQ:GH) by 147.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 50,519 shares of the company’s stock after buying an additional 30,094 shares during the quarter. Edgestream Partners L.P.’s holdings in Guardant Health were worth $2,629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GH. IFP Advisors Inc raised its stake in Guardant Health by 120.1% in the second quarter. IFP Advisors Inc now owns 612 shares of the company’s stock worth $33,000 after buying an additional 334 shares in the last quarter. Signaturefd LLC boosted its position in Guardant Health by 50.5% during the 2nd quarter. Signaturefd LLC now owns 635 shares of the company’s stock valued at $33,000 after acquiring an additional 213 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Guardant Health by 358.4% in the 2nd quarter. Allworth Financial LP now owns 706 shares of the company’s stock valued at $37,000 after acquiring an additional 552 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Guardant Health in the 2nd quarter worth $62,000. Finally, SVB Wealth LLC purchased a new stake in shares of Guardant Health during the 1st quarter worth $54,000. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Trading Up 2.4%

NASDAQ GH opened at $108.52 on Friday. Guardant Health, Inc. has a 12-month low of $29.91 and a 12-month high of $112.43. The company has a fifty day simple moving average of $83.83 and a two-hundred day simple moving average of $62.66. The stock has a market cap of $13.68 billion, a P/E ratio of -33.81 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last released its earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.09. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period last year, the company earned ($0.88) earnings per share. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Insider Transactions at Guardant Health

In other Guardant Health news, insider Terilyn J. Monroe sold 55,167 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $105.97, for a total transaction of $5,846,046.99. Following the completion of the transaction, the insider directly owned 20,920 shares of the company’s stock, valued at approximately $2,216,892.40. This trade represents a 72.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Helmy Eltoukhy sold 300,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the completion of the sale, the chief executive officer directly owned 2,123,499 shares in the company, valued at $126,242,015.55. This trade represents a 12.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 368,228 shares of company stock valued at $24,835,525. 6.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on GH. Stifel Nicolaus set a $73.00 target price on Guardant Health in a research note on Thursday, September 25th. Morgan Stanley lifted their price objective on shares of Guardant Health from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday. Cowen reissued a “buy” rating on shares of Guardant Health in a research report on Thursday, October 30th. Wells Fargo & Company initiated coverage on shares of Guardant Health in a report on Monday, September 22nd. They issued an “overweight” rating and a $72.00 price target on the stock. Finally, Piper Sandler increased their price objective on Guardant Health from $60.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Twenty-three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and a consensus price target of $80.86.

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.