Guardant Health (NASDAQ:GH) Trading Up 6.4% – Here’s Why

Guardant Health, Inc. (NASDAQ:GH)’s stock price rose 6.4% during trading on Monday . The stock traded as high as $21.82 and last traded at $21.82. Approximately 64,215 shares changed hands during trading, a decline of 97% from the average daily volume of 2,038,611 shares. The stock had previously closed at $20.51.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GH. Citigroup upped their price target on Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. BTIG Research raised their price target on shares of Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. TD Cowen upped their price objective on shares of Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Piper Sandler raised their target price on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and a consensus target price of $40.31.

Guardant Health Stock Performance

The stock has a market cap of $2.70 billion, a P/E ratio of -5.31 and a beta of 1.11. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07. The company has a fifty day moving average of $23.74 and a 200 day moving average of $25.61.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). The firm had revenue of $177.24 million during the quarter, compared to the consensus estimate of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.67) EPS. On average, equities analysts predict that Guardant Health, Inc. will post -3.31 earnings per share for the current fiscal year.

Institutional Trading of Guardant Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Duality Advisers LP acquired a new position in shares of Guardant Health in the 1st quarter valued at $1,154,000. Vanguard Group Inc. raised its holdings in Guardant Health by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock worth $301,084,000 after buying an additional 180,424 shares during the period. Swiss National Bank boosted its holdings in shares of Guardant Health by 3.3% in the first quarter. Swiss National Bank now owns 227,700 shares of the company’s stock worth $4,697,000 after buying an additional 7,300 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Guardant Health by 1,649.4% in the first quarter. Principal Financial Group Inc. now owns 228,215 shares of the company’s stock worth $4,708,000 after buying an additional 215,170 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Guardant Health by 254.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 114,125 shares of the company’s stock valued at $2,354,000 after acquiring an additional 81,887 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Company Profile

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.