John Saia Sells 20,000 Shares of Guardant Health (NASDAQ:GH) Stock

Guardant Health, Inc. (NASDAQ:GH) insider John Saia sold 20,000 shares of Guardant Health stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $106.51, for a total value of $2,130,200.00. Following the transaction, the insider owned 45,950 shares in the company, valued at approximately $4,894,134.50. This represents a 30.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Stock Up 0.8%

NASDAQ GH opened at $118.95 on Friday. Guardant Health, Inc. has a 52 week low of $36.36 and a 52 week high of $121.01. The business’s fifty day simple moving average is $91.15 and its 200-day simple moving average is $98.94. The firm has a market cap of $15.77 billion, a PE ratio of -35.09 and a beta of 1.48.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) 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. During the same quarter in the previous year, the company posted ($0.62) EPS. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. Research analysts expect that Guardant Health, Inc. will post -2.92 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new stake in Guardant Health during the third quarter worth about $114,421,000. Price T Rowe Associates Inc. MD lifted its position in shares of Guardant Health by 33.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock worth $575,670,000 after purchasing an additional 1,414,441 shares in the last quarter. Norges Bank acquired a new stake in shares of Guardant Health during the fourth quarter worth about $128,499,000. Summit Partners Public Asset Management LLC grew its holdings in shares of Guardant Health by 674.5% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock valued at $87,019,000 after purchasing an additional 741,958 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Guardant Health by 26.1% in the third 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 in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GH. Citigroup lifted their price target on Guardant Health from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Evercore set a $110.00 target price on shares of Guardant Health in a research note on Friday, February 20th. Barclays increased their target price on shares of Guardant Health from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their target price on shares of Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $129.00 target price on shares of Guardant Health in a research note on Monday, February 23rd. Nineteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.