Federated Hermes Inc. Buys 615,429 Shares of Guardant Health, Inc. $GH

Federated Hermes Inc. boosted its stake in Guardant Health, Inc. (NASDAQ:GH) by 72.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,465,438 shares of the company’s stock after acquiring an additional 615,429 shares during the period. Federated Hermes Inc.’s holdings in Guardant Health were worth $76,261,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in shares of Guardant Health by 27.3% during the 2nd quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock valued at $185,184,000 after acquiring an additional 763,834 shares during the period. Geode Capital Management LLC grew its holdings in Guardant Health by 0.5% during the second quarter. Geode Capital Management LLC now owns 2,920,714 shares of the company’s stock valued at $152,014,000 after purchasing an additional 13,088 shares during the period. ARK Investment Management LLC increased its position in Guardant Health by 100.4% in the second quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock worth $146,935,000 after buying an additional 1,414,381 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Guardant Health by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,777,040 shares of the company’s stock valued at $118,302,000 after buying an additional 164,263 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Guardant Health by 78.2% during the 2nd quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock valued at $120,730,000 after buying an additional 1,018,144 shares during the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GH has been the subject of several recent research reports. Canaccord Genuity Group set a $100.00 price objective on Guardant Health in a report on Thursday, October 30th. Citigroup lifted their target price on shares of Guardant Health from $65.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Stifel Nicolaus set a $73.00 price target on shares of Guardant Health in a research note on Thursday, September 25th. Piper Sandler raised their price objective on shares of Guardant Health from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Barclays boosted their target price on shares of Guardant Health from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Twenty-three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.86.

Insiders Place Their Bets

In other news, insider Terilyn J. Monroe sold 55,167 shares of Guardant Health stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $105.97, for a total transaction of $5,846,046.99. Following the completion of the sale, the insider owned 20,920 shares in the company, valued at approximately $2,216,892.40. This trade represents a 72.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Helmy Eltoukhy sold 300,000 shares of the firm’s stock in a transaction that occurred 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 represents a 12.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 368,228 shares of company stock worth $24,835,525 over the last three months. Corporate insiders own 6.10% of the company’s stock.

Guardant Health Trading Down 6.0%

Shares of NASDAQ:GH opened at $102.02 on Monday. The company has a 50 day moving average of $84.67 and a 200 day moving average of $63.43. The stock has a market cap of $12.86 billion, a P/E ratio of -31.78 and a beta of 1.58. Guardant Health, Inc. has a 12 month low of $29.91 and a 12 month high of $112.43.

Guardant Health (NASDAQ:GH) last posted its earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.09. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.88) earnings per share. On average, equities analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

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.