Guardant Health, Inc. $GH Shares Bought by Iron Triangle Partners LP

Iron Triangle Partners LP grew its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 33.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 400,000 shares of the company’s stock after purchasing an additional 100,000 shares during the period. Guardant Health makes up approximately 3.6% of Iron Triangle Partners LP’s investment portfolio, making the stock its 14th largest holding. Iron Triangle Partners LP owned 0.32% of Guardant Health worth $24,992,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of GH. AQR Capital Management LLC raised its position in shares of Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after buying an additional 25,831 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Guardant Health during the first quarter valued at approximately $274,000. Envestnet Asset Management Inc. raised its holdings in Guardant Health by 40.5% during the second quarter. Envestnet Asset Management Inc. now owns 38,622 shares of the company’s stock worth $2,010,000 after purchasing an additional 11,125 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in Guardant Health in the second quarter worth approximately $236,000. Finally, Allworth Financial LP boosted its stake in Guardant Health by 358.4% during the 2nd quarter. Allworth Financial LP now owns 706 shares of the company’s stock valued at $37,000 after purchasing an additional 552 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Activity at Guardant Health

In other news, insider Terilyn J. Monroe sold 10,031 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $112.08, for a total transaction of $1,124,274.48. Following the transaction, the insider directly owned 20,990 shares in the company, valued at $2,352,559.20. The trade was a 32.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Medina Manuel Hidalgo sold 1,300 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $91.54, for a total transaction of $119,002.00. Following the completion of the transaction, the director directly owned 1,193 shares in the company, valued at $109,207.22. This trade represents a 52.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 20,018 shares of company stock worth $2,232,911. Company insiders own 6.10% of the company’s stock.

Guardant Health Trading Up 1.7%

Shares of Guardant Health stock opened at $85.49 on Monday. Guardant Health, Inc. has a 1 year low of $36.36 and a 1 year high of $120.74. The company has a market cap of $11.21 billion, a P/E ratio of -25.83 and a beta of 1.67. The stock has a 50-day moving average price of $103.92 and a 200 day moving average price of $90.02.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The firm had revenue of $281.27 million during the quarter, compared to the consensus estimate of $269.74 million. Guardant Health’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.62) EPS. On average, equities analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GH. Morgan Stanley lifted their price target on Guardant Health from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, December 1st. Citigroup upped their price objective on Guardant Health from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 20th. Guggenheim lifted their target price on Guardant Health from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Evercore set a $110.00 price target on shares of Guardant Health in a research report on Friday, February 20th. Finally, Wells Fargo & Company upped their price target on shares of Guardant Health from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Twenty-one investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and an average price target of $122.57.

About Guardant Health

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.