Ninepoint Partners LP Acquires Shares of 19,018 Guardant Health, Inc. $GH

Ninepoint Partners LP bought a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,018 shares of the company’s stock, valued at approximately $2,853,000.

A number of other institutional investors have also modified their holdings of GH. Vise Technologies Inc. purchased a new stake in Guardant Health in the 2nd quarter valued at $245,000. MSH Capital Advisors LLC acquired a new stake in Guardant Health during the 2nd quarter worth $936,000. Lisanti Capital Growth LLC purchased a new position in Guardant Health during the 2nd quarter worth $1,592,000. Eagle Health Investments LP acquired a new position in Guardant Health in the second quarter valued at $45,112,000. Finally, Wealthfront Advisers LLC acquired a new position in Guardant Health in the second quarter valued at $458,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GH has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Guardant Health from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research report on Friday, July 17th. Citigroup boosted their target price on Guardant Health from $150.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Mizuho upped their price target on Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, BTIG Research lifted their price objective on shares of Guardant Health from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.78.

Guardant Health Price Performance

Guardant Health stock opened at $167.88 on Friday. The stock’s 50 day moving average price is $153.13 and its 200 day moving average price is $118.33. Guardant Health, Inc. has a 1-year low of $53.40 and a 1-year high of $176.58. The company has a market cap of $22.53 billion, a PE ratio of -48.10 and a beta of 1.60.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analysts’ expectations of $314.23 million. During the same quarter in the previous year, the company posted ($0.44) EPS. The company’s revenue was up 44.3% compared to the same quarter last year. On average, equities research analysts anticipate that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

Insider Buying and Selling at Guardant Health

In related news, CEO Helmy Eltoukhy sold 100,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the sale, the chief executive officer owned 2,012,919 shares of the company’s stock, valued at approximately $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Terilyn J. Monroe sold 46,300 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the transaction, the insider owned 22,979 shares in the company, valued at $3,794,292.48. The trade was a 66.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 521,818 shares of company stock worth $77,539,233. Company insiders own 5.60% of the company’s stock.

Guardant Health 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.