Insider Selling: Guardant Health, Inc. (NASDAQ:GH) Director Sells 2,896 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) Director Meghan V. Joyce sold 2,896 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the transaction, the director now owns 7,648 shares in the company, valued at approximately $228,675.20. This trade represents a 27.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Guardant Health Stock Down 2.6 %

GH traded down $0.80 during trading hours on Friday, hitting $29.41. 293,926 shares of the company’s stock were exchanged, compared to its average volume of 2,063,913. Guardant Health, Inc. has a 1-year low of $15.81 and a 1-year high of $37.04. The stock’s 50-day moving average is $23.57 and its two-hundred day moving average is $26.33. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The business had revenue of $191.48 million for the quarter, compared to analyst estimates of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The company’s quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.73) earnings per share. As a group, equities research analysts predict that Guardant Health, Inc. will post -3.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Erste Asset Management GmbH bought a new stake in shares of Guardant Health during the 3rd quarter worth approximately $21,389,000. PDT Partners LLC increased its holdings in Guardant Health by 51.8% during the third quarter. PDT Partners LLC now owns 219,542 shares of the company’s stock worth $5,036,000 after buying an additional 74,957 shares during the last quarter. Eventide Asset Management LLC increased its holdings in Guardant Health by 2.0% during the third quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock worth $88,028,000 after buying an additional 76,762 shares during the last quarter. Verition Fund Management LLC raised its position in Guardant Health by 220.6% during the third quarter. Verition Fund Management LLC now owns 37,641 shares of the company’s stock worth $863,000 after acquiring an additional 25,900 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Guardant Health by 6.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,986 shares of the company’s stock valued at $665,000 after acquiring an additional 1,844 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GH has been the topic of several recent analyst reports. Craig Hallum lifted their price objective on shares of Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. BTIG Research raised their price objective on Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Citigroup boosted their target price on Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Sanford C. Bernstein dropped their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.60.

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.