Connective Portfolio Management LLC Takes $715,000 Position in Guardant Health, Inc. $GH

Connective Portfolio Management LLC acquired a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the fourth quarter, HoldingsChannel reports. The firm acquired 7,000 shares of the company’s stock, valued at approximately $715,000. Guardant Health comprises 1.3% of Connective Portfolio Management LLC’s holdings, making the stock its 29th largest holding.

Several other institutional investors have also added to or reduced their stakes in GH. Baillie Gifford & Co. boosted its stake in Guardant Health by 6.6% in the 3rd quarter. Baillie Gifford & Co. now owns 5,127,692 shares of the company’s stock worth $320,378,000 after purchasing an additional 317,906 shares during the period. Invesco Ltd. raised its stake in shares of Guardant Health by 27.3% in the 2nd quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock valued at $185,184,000 after purchasing an additional 763,834 shares during the period. Franklin Resources Inc. raised its stake in shares of Guardant Health by 26.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock valued at $182,836,000 after purchasing an additional 606,368 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in shares of Guardant Health by 49.6% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,030,428 shares of the company’s stock valued at $105,623,000 after purchasing an additional 673,438 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Guardant Health in the third quarter valued at about $114,421,000. 92.60% of the stock is owned by institutional investors.

Guardant Health Stock Performance

GH opened at $86.58 on Thursday. Guardant Health, Inc. has a 52-week low of $36.36 and a 52-week high of $120.74. The firm has a market capitalization of $11.36 billion, a PE ratio of -26.16 and a beta of 1.67. The business’s 50-day simple moving average is $100.45 and its 200 day simple moving average is $91.07.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The business had revenue of $281.27 million during the quarter, compared to analysts’ expectations of $269.74 million. The firm’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the company posted ($0.62) EPS. On average, research analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler increased their price objective on Guardant Health from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. TD Cowen upped their price target on Guardant Health from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Evercore set a $110.00 price target on shares of Guardant Health in a research note on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Guardant Health in a report on Thursday, January 22nd. Finally, Mizuho set a $135.00 price objective on shares of Guardant Health in a research report on Friday, January 9th. Twenty research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and a consensus target price of $125.95.

Insider Buying and Selling

In related news, Director Musa Tariq sold 348 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $88.09, for a total transaction of $30,655.32. Following the transaction, the director directly owned 8,394 shares in the company, valued at approximately $739,427.46. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Brian Bell sold 3,000 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $87.04, for a total transaction of $261,120.00. Following the sale, the chief financial officer directly owned 43,601 shares in the company, valued at $3,795,031.04. This trade represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 23,250 shares of company stock worth $2,512,917. 6.10% of the stock is owned by corporate insiders.

About Guardant Health

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.