Guardant Health (NASDAQ:GH) Sets New 52-Week High – Time to Buy?

Guardant Health, Inc. (NASDAQ:GH)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $105.27 and last traded at $99.35, with a volume of 3391358 shares. The stock had previously closed at $95.57.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Mizuho set a $100.00 price objective on Guardant Health in a research note on Thursday, October 30th. Leerink Partners raised their price objective on Guardant Health from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. BTIG Research raised their price target on Guardant Health from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Canaccord Genuity Group set a $100.00 price objective on shares of Guardant Health in a report on Thursday, October 30th. Finally, Evercore ISI lifted their target price on shares of Guardant Health from $68.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Twenty-three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.14.

Guardant Health Trading Up 4.1%

The firm has a 50-day simple moving average of $72.20 and a two-hundred day simple moving average of $57.49. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of -30.88 and a beta of 1.56.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.09. During the same quarter last year, the business posted ($0.88) EPS. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current year.

Insider Transactions at Guardant Health

In other Guardant Health news, insider John G. Saia sold 8,996 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $96.25, for a total transaction of $865,865.00. Following the sale, the insider directly owned 43,172 shares in the company, valued at $4,155,305. This represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Helmy Eltoukhy sold 300,000 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the completion of the sale, the chief executive officer owned 2,123,499 shares in the company, valued at approximately $126,242,015.55. The trade was a 12.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 313,045 shares of company stock worth $18,984,897 in the last quarter. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GH. Envestnet Asset Management Inc. raised its stake in Guardant Health by 136.6% in the first quarter. Envestnet Asset Management Inc. now owns 27,497 shares of the company’s stock valued at $1,171,000 after buying an additional 15,877 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Guardant Health by 184.1% in the 1st quarter. New York State Common Retirement Fund now owns 106,884 shares of the company’s stock valued at $4,553,000 after acquiring an additional 69,257 shares during the last quarter. CWM LLC raised its position in shares of Guardant Health by 180.3% during the 1st quarter. CWM LLC now owns 2,296 shares of the company’s stock worth $98,000 after acquiring an additional 1,477 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Guardant Health by 1,410.0% during the first quarter. Victory Capital Management Inc. now owns 220,124 shares of the company’s stock worth $9,377,000 after purchasing an additional 205,546 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Guardant Health during the first quarter worth approximately $6,652,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.