539,190 Shares in Guardant Health, Inc. $GH Acquired by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP acquired a new position in Guardant Health, Inc. (NASDAQ:GH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 539,190 shares of the company’s stock, valued at approximately $55,073,000.

A number of other large investors also recently bought and sold shares of GH. Alyeska Investment Group L.P. bought a new position in Guardant Health in the third quarter worth approximately $114,421,000. Norges Bank acquired a new position in shares of Guardant Health during the fourth quarter worth $128,499,000. Franklin Resources Inc. increased its position in shares of Guardant Health by 26.1% during the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock worth $182,836,000 after purchasing an additional 606,368 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Guardant Health by 124.3% in the third quarter. Qube Research & Technologies Ltd now owns 570,095 shares of the company’s stock valued at $35,620,000 after buying an additional 315,896 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Guardant Health by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company’s stock valued at $328,297,000 after acquiring an additional 277,001 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

NASDAQ:GH opened at $125.61 on Friday. Guardant Health, Inc. has a one year low of $40.35 and a one year high of $134.28. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of -37.05 and a beta of 1.61. The firm’s fifty day moving average is $99.39 and its two-hundred day moving average is $101.08.

Insider Buying and Selling

In other news, Director Steve E. Krognes sold 9,294 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $132.51, for a total transaction of $1,231,547.94. Following the sale, the director directly owned 10,222 shares of the company’s stock, valued at $1,354,517.22. This represents a 47.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Freeman sold 24,406 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the sale, the insider directly owned 60,034 shares in the company, valued at approximately $7,124,234.78. The trade was a 28.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 350,238 shares of company stock valued at $38,538,372 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler set a $127.00 price objective on shares of Guardant Health in a report on Thursday, May 21st. The Goldman Sachs Group started coverage on Guardant Health in a research report on Friday. They issued a “buy” rating and a $165.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and issued a $129.00 target price on shares of Guardant Health in a research report on Monday, February 23rd. JPMorgan Chase & Co. upped their target price on Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, BTIG Research set a $160.00 target price on Guardant Health and gave the company a “buy” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health currently has an average rating of “Buy” and an average target price of $137.80.

Guardant Health 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.