The Goldman Sachs Group Issues Positive Forecast for Guardant Health (NASDAQ:GH) Stock Price

Guardant Health (NASDAQ:GH) had its price target hoisted by The Goldman Sachs Group from $32.00 to $36.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

GH has been the topic of several other reports. Bank of America raised their price objective on Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. TD Cowen upped their price target on Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Sanford C. Bernstein decreased their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Piper Sandler upped their price target on shares of Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, Citigroup raised their price target on shares of Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.35.

Guardant Health Price Performance

Shares of GH stock traded up $0.02 on Thursday, hitting $28.61. 2,776,152 shares of the stock traded hands, compared to its average volume of 2,069,648. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07. Guardant Health has a 52 week low of $15.81 and a 52 week high of $37.04. The firm has a 50 day simple moving average of $23.07 and a two-hundred day simple moving average of $25.90. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -6.99 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). The business had revenue of $177.24 million during the quarter, compared to analysts’ expectations of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.67) earnings per share. As a group, equities research analysts predict that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Institutional Trading of Guardant Health

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Guardant Health in the 1st quarter valued at $273,000. GSA Capital Partners LLP increased its stake in Guardant Health by 269.7% in the 1st quarter. GSA Capital Partners LLP now owns 31,291 shares of the company’s stock valued at $646,000 after buying an additional 22,828 shares during the period. Manchester Capital Management LLC acquired a new position in shares of Guardant Health during the first quarter worth about $57,000. Duality Advisers LP acquired a new position in Guardant Health during the first quarter worth $1,154,000. Finally, Swiss National Bank increased its holdings in shares of Guardant Health by 3.3% in the 1st quarter. Swiss National Bank now owns 227,700 shares of the company’s stock valued at $4,697,000 after purchasing an additional 7,300 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Company Profile

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.