BTIG Research Increases Guardant Health (NASDAQ:GH) Price Target to $50.00

Guardant Health (NASDAQ:GH) had its price objective upped by BTIG Research from $45.00 to $50.00 in a report issued on Tuesday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other equities analysts also recently commented on GH. Jefferies Financial Group initiated coverage on Guardant Health in a research note on Monday, June 3rd. They issued a buy rating and a $32.00 target price for the company. Craig Hallum initiated coverage on Guardant Health in a research note on Wednesday, April 24th. They issued a buy rating and a $28.00 target price for the company. Canaccord Genuity Group lifted their target price on Guardant Health from $30.00 to $38.00 and gave the company a buy rating in a research note on Tuesday, June 4th. Guggenheim upgraded Guardant Health from a neutral rating to a buy rating and set a $36.00 price objective for the company in a research report on Friday, June 28th. Finally, Bank of America boosted their price objective on Guardant Health from $28.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $38.29.

Guardant Health Stock Down 5.0 %

NASDAQ:GH opened at $33.36 on Tuesday. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -8.51 and a beta of 1.13. Guardant Health has a one year low of $15.81 and a one year high of $41.06. The stock has a 50-day simple moving average of $29.77 and a 200 day simple moving average of $23.64. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.66 and a current ratio of 5.95.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.94) EPS for the quarter, hitting analysts’ consensus estimates of ($0.94). The business had revenue of $168.49 million during the quarter, compared to the consensus estimate of $150.51 million. Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. Sell-side analysts predict that Guardant Health will post -3.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Guardant Health by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock worth $235,925,000 after purchasing an additional 305,372 shares in the last quarter. Baillie Gifford & Co. grew its position in Guardant Health by 0.9% during the 1st quarter. Baillie Gifford & Co. now owns 6,232,104 shares of the company’s stock worth $128,568,000 after purchasing an additional 53,292 shares in the last quarter. Capital International Investors grew its position in Guardant Health by 36.7% during the 4th quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock worth $108,249,000 after purchasing an additional 1,074,452 shares in the last quarter. Eventide Asset Management LLC grew its position in Guardant Health by 8.3% during the 4th quarter. Eventide Asset Management LLC now owns 3,888,146 shares of the company’s stock worth $105,174,000 after purchasing an additional 298,616 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Guardant Health by 31.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock worth $36,973,000 after purchasing an additional 309,157 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

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.