Guardant Health Inc (NASDAQ:GH) Expected to Post Quarterly Sales of $35.50 Million

Analysts forecast that Guardant Health Inc (NASDAQ:GH) will announce sales of $35.50 million for the current quarter, Zacks reports. Four analysts have provided estimates for Guardant Health’s earnings. The highest sales estimate is $38.45 million and the lowest is $30.96 million. The firm is expected to report its next earnings results after the market closes on Tuesday, August 6th.

On average, analysts expect that Guardant Health will report full year sales of $144.47 million for the current fiscal year, with estimates ranging from $132.40 million to $149.71 million. For the next fiscal year, analysts anticipate that the firm will report sales of $212.99 million, with estimates ranging from $208.00 million to $216.56 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Guardant Health.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.05. The company had revenue of $36.66 million during the quarter, compared to analysts’ expectations of $32.12 million.

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Guardant Health from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Zacks Investment Research upgraded Guardant Health from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Wednesday, July 24th. Canaccord Genuity assumed coverage on Guardant Health in a research report on Tuesday, April 16th. They set a “buy” rating and a $90.00 target price on the stock. Finally, Bank of America upgraded Guardant Health from a “neutral” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Wednesday, April 10th. Seven investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $87.80.

In other Guardant Health news, insider Michael J. Wiley sold 80,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $65.96, for a total value of $5,276,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard B. Lanman sold 1,690 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $80.00, for a total value of $135,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 178,912 shares of company stock worth $12,518,545 in the last quarter. Insiders own 13.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Advantage Investment Management LLC lifted its holdings in Guardant Health by 200.0% in the 2nd quarter. Advantage Investment Management LLC now owns 450 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares in the last quarter. Mascoma Wealth Management LLC acquired a new stake in shares of Guardant Health in the 1st quarter worth $54,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Guardant Health in the 2nd quarter worth $76,000. FNY Investment Advisers LLC increased its stake in shares of Guardant Health by 7,816.7% in the 2nd quarter. FNY Investment Advisers LLC now owns 950 shares of the company’s stock worth $82,000 after acquiring an additional 938 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Guardant Health in the 2nd quarter worth $83,000. Institutional investors own 69.84% of the company’s stock.

Guardant Health stock traded up $3.28 during mid-day trading on Tuesday, hitting $90.50. The company had a trading volume of 938,367 shares, compared to its average volume of 977,688. Guardant Health has a 12-month low of $27.04 and a 12-month high of $106.58. The stock has a market cap of $7.60 billion and a P/E ratio of -32.32. The firm’s fifty day moving average is $89.86.

Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.

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