Guardant Health (NASDAQ:GH) Hits New 1-Year High – Should You Buy?

Guardant Health, Inc. (NASDAQ:GH) hit a new 52-week high during trading on Tuesday . The company traded as high as $111.91 and last traded at $111.25, with a volume of 2818328 shares traded. The stock had previously closed at $105.42.

Analysts Set New Price Targets

GH has been the subject of a number of analyst reports. Wells Fargo & Company started coverage on Guardant Health in a research note on Monday, September 22nd. They issued an “overweight” rating and a $72.00 price target for the company. Citigroup raised their target price on shares of Guardant Health from $65.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Barclays boosted their target price on shares of Guardant Health from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Guardant Health in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $73.00 price objective on shares of Guardant Health in a research note on Thursday, September 25th. Twenty-three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.14.

Guardant Health Stock Performance

The firm’s fifty day moving average is $78.15 and its 200-day moving average is $60.06. The company has a market capitalization of $13.59 billion, a P/E ratio of -33.58 and a beta of 1.56.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. Guardant Health’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.88) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. As a group, analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Medina Manuel Hidalgo sold 1,500 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $95.19, for a total transaction of $142,785.00. Following the sale, the director directly owned 815 shares in the company, valued at approximately $77,579.85. The trade was a 64.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John G. Saia sold 8,996 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $96.25, for a total value of $865,865.00. Following the completion of the transaction, the insider directly owned 43,172 shares of the company’s stock, valued at $4,155,305. This represents a 17.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 313,161 shares of company stock worth $18,996,062 in the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Several hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its holdings in shares of Guardant Health by 37.3% during the 1st quarter. Intech Investment Management LLC now owns 60,187 shares of the company’s stock worth $2,564,000 after buying an additional 16,363 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Guardant Health during the 2nd quarter valued at $289,000. Osterweis Capital Management Inc. acquired a new position in shares of Guardant Health during the 1st quarter valued at $12,634,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Guardant Health by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,236 shares of the company’s stock worth $3,035,000 after acquiring an additional 4,056 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Guardant Health in the first quarter worth $809,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.