Primecap Management Co. CA Lowers Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

Primecap Management Co. CA lessened its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 34.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,686 shares of the company’s stock after selling 22,490 shares during the quarter. Primecap Management Co. CA’s holdings in Guardant Health were worth $1,335,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP boosted its holdings in Guardant Health by 188.6% in the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock valued at $232,325,000 after purchasing an additional 6,618,785 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Guardant Health in the 3rd quarter valued at approximately $21,389,000. Lord Abbett & CO. LLC purchased a new stake in shares of Guardant Health in the third quarter valued at approximately $15,624,000. Two Sigma Advisers LP grew its holdings in Guardant Health by 52.7% during the third quarter. Two Sigma Advisers LP now owns 1,177,300 shares of the company’s stock worth $27,007,000 after acquiring an additional 406,500 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Guardant Health by 19.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company’s stock worth $44,732,000 after acquiring an additional 238,037 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

GH stock opened at $46.24 on Thursday. The company has a 50 day moving average price of $43.50 and a two-hundred day moving average price of $33.28. The stock has a market capitalization of $5.71 billion, a P/E ratio of -12.99 and a beta of 1.50. Guardant Health, Inc. has a one year low of $15.81 and a one year high of $50.89.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The business had revenue of $201.81 million during the quarter, compared to analysts’ expectations of $192.50 million. Research analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Scotiabank increased their target price on shares of Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Raymond James reissued an “outperform” rating and set a $59.00 price target (up previously from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Morgan Stanley raised their price objective on Guardant Health from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group boosted their target price on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Twenty analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $48.40.

Guardant Health 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.