Guardant Health (NASDAQ:GH) CFO Sells $8,288,536.68 in Stock

Guardant Health, Inc. (NASDAQ:GH) CFO Michael Brian Bell sold 80,362 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $103.14, for a total value of $8,288,536.68. Following the completion of the sale, the chief financial officer directly owned 28,052 shares in the company, valued at approximately $2,893,283.28. The trade was a 74.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Guardant Health Trading Down 0.6%

GH stock opened at $102.62 on Thursday. The company’s 50 day moving average is $87.13 and its 200 day moving average is $64.63. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of -31.97 and a beta of 1.58. Guardant Health, Inc. has a 1-year low of $29.91 and a 1-year high of $112.43.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.09. The firm’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.88) EPS. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on Guardant Health from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. UBS Group boosted their target price on Guardant Health from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Leerink Partners upped their target price on Guardant Health from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, September 25th. TD Cowen lifted their price target on shares of Guardant Health from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a report on Wednesday, October 8th. Twenty-three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.86.

Hedge Funds Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in shares of Guardant Health by 6.6% in the third quarter. Baillie Gifford & Co. now owns 5,127,692 shares of the company’s stock worth $320,378,000 after purchasing an additional 317,906 shares during the last quarter. Invesco Ltd. lifted its holdings in Guardant Health by 27.3% in the 2nd quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock worth $185,184,000 after buying an additional 763,834 shares during the period. Franklin Resources Inc. grew its position in shares of Guardant Health by 26.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock worth $182,836,000 after buying an additional 606,368 shares during the last quarter. Geode Capital Management LLC increased its position in Guardant Health by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,920,714 shares of the company’s stock valued at $152,014,000 after purchasing an additional 13,088 shares during the period. Finally, ARK Investment Management LLC boosted its stake in shares of Guardant Health by 100.4% during the 2nd quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock valued at $146,935,000 after purchasing an additional 1,414,381 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

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.