Ian Clark Sells 6,876 Shares of Guardant Health (NASDAQ:GH) Stock

Guardant Health, Inc. (NASDAQ:GH) Director Ian Clark sold 6,876 shares of Guardant Health stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $106.90, for a total value of $735,044.40. Following the sale, the director owned 2,975 shares of the company’s stock, valued at approximately $318,027.50. This represents a 69.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $118.95 on Friday. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of -35.09 and a beta of 1.48. Guardant Health, Inc. has a 52-week low of $36.36 and a 52-week high of $121.01. The stock has a 50-day simple moving average of $91.15 and a 200-day simple moving average of $98.94.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The firm had revenue of $281.27 million during the quarter, compared to analyst estimates of $269.74 million. Guardant Health’s revenue was up 39.4% compared to the same quarter last year. During the same period last year, the company posted ($0.62) EPS. As a group, equities research analysts predict that Guardant Health, Inc. will post -2.92 earnings per share for the current year.

Institutional Investors Weigh In On Guardant Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in Guardant Health by 19.5% in the 3rd quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after purchasing an additional 138 shares during the last quarter. Eastern Bank lifted its holdings in Guardant Health by 6.9% in the 4th quarter. Eastern Bank now owns 2,160 shares of the company’s stock worth $221,000 after purchasing an additional 139 shares during the last quarter. First Pacific Financial lifted its holdings in Guardant Health by 33.1% in the 1st quarter. First Pacific Financial now owns 559 shares of the company’s stock worth $52,000 after purchasing an additional 139 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Guardant Health by 3.2% during the third quarter. TD Waterhouse Canada Inc. now owns 4,891 shares of the company’s stock worth $306,000 after buying an additional 151 shares during the last quarter. Finally, Xponance LLC lifted its holdings in shares of Guardant Health by 2.1% during the fourth quarter. Xponance LLC now owns 9,630 shares of the company’s stock worth $984,000 after buying an additional 199 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GH. Stifel Nicolaus lifted their price target on Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 20th. Piper Sandler set a $127.00 price target on Guardant Health in a report on Thursday. TD Cowen restated a “buy” rating on shares of Guardant Health in a report on Thursday. Robert W. Baird started coverage on Guardant Health in a report on Tuesday, February 17th. They issued an “outperform” rating and a $120.00 target price for the company. Finally, Canaccord Genuity Group boosted their target price on Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.00.

Guardant Health Company Profile

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.