Guardant Health (NASDAQ:GH) Issues Quarterly Earnings Results

Guardant Health (NASDAQ:GH) issued its quarterly earnings results on Thursday. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07), FiscalAI reports. The company had revenue of $281.27 million during the quarter, compared to the consensus estimate of $269.74 million.

Guardant Health Trading Down 1.0%

NASDAQ:GH traded down $1.04 during mid-day trading on Thursday, hitting $106.38. The company’s stock had a trading volume of 1,612,284 shares, compared to its average volume of 2,022,701. The stock has a fifty day moving average of $106.57 and a 200-day moving average of $85.39. The company has a market capitalization of $13.41 billion, a price-to-earnings ratio of -33.14 and a beta of 1.63. Guardant Health has a fifty-two week low of $34.88 and a fifty-two week high of $120.74.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, insider Terilyn J. Monroe sold 55,167 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $105.97, for a total value of $5,846,046.99. Following the sale, the insider directly owned 20,920 shares in the company, valued at $2,216,892.40. This represents a 72.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Helmy Eltoukhy sold 90,565 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $103.82, for a total transaction of $9,402,458.30. Following the completion of the sale, the chief executive officer owned 2,047,143 shares in the company, valued at $212,534,386.26. This represents a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 434,511 shares of company stock worth $45,580,887 over the last three months. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GH. Price T Rowe Associates Inc. MD lifted its stake in shares of Guardant Health by 33.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after acquiring an additional 1,414,441 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Guardant Health by 3.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,441,730 shares of the company’s stock valued at $249,398,000 after purchasing an additional 72,162 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Guardant Health by 14.4% during the 4th quarter. Federated Hermes Inc. now owns 2,031,562 shares of the company’s stock worth $207,504,000 after buying an additional 255,193 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Guardant Health during the third quarter worth approximately $114,421,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Guardant Health by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,457,676 shares of the company’s stock valued at $148,887,000 after buying an additional 41,792 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GH. JPMorgan Chase & Co. boosted their target price on Guardant Health from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. UBS Group reaffirmed a “buy” rating and issued a $175.00 price target on shares of Guardant Health in a research note on Friday, January 30th. Canaccord Genuity Group increased their price target on Guardant Health from $100.00 to $125.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Wells Fargo & Company lifted their price target on shares of Guardant Health from $93.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Finally, BTIG Research lifted their price objective on Guardant Health from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Twenty-two 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.45.

Guardant Health Company 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.