Guardant Health (NASDAQ:GH) Sets New 12-Month High on Earnings Beat

Guardant Health Inc (NASDAQ:GH) shares reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $109.67 and last traded at $109.14, with a volume of 1760010 shares changing hands. The stock had previously closed at $90.50.

The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. The business had revenue of $53.98 million for the quarter, compared to the consensus estimate of $35.97 million. During the same quarter in the previous year, the business earned ($1.75) earnings per share. The firm’s revenue was up 178.5% on a year-over-year basis.

Several brokerages have recently issued reports on GH. Canaccord Genuity restated a “buy” rating and issued a $125.00 target price (up previously from $96.00) on shares of Guardant Health in a report on Wednesday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $135.00 target price (up previously from $90.00) on shares of Guardant Health in a report on Wednesday. Zacks Investment Research upgraded shares of Guardant Health from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Wednesday, July 24th. Finally, Bank of America upgraded shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Wednesday, April 10th. Seven equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $103.80.

In other news, CEO Helmy Eltoukhy sold 78,660 shares of Guardant Health stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $72.34, for a total value of $5,690,264.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Derek A. Bertocci sold 18,562 shares of Guardant Health stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $76.30, for a total value of $1,416,280.60. The disclosure for this sale can be found here. Insiders have sold 98,912 shares of company stock valued at $7,241,745 in the last three months. Insiders own 13.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc increased its holdings in Guardant Health by 20.0% in the 2nd quarter. NEXT Financial Group Inc now owns 1,200 shares of the company’s stock worth $104,000 after buying an additional 200 shares in the last quarter. First Trust Advisors LP increased its holdings in Guardant Health by 0.4% in the 1st quarter. First Trust Advisors LP now owns 71,871 shares of the company’s stock worth $5,513,000 after buying an additional 264 shares in the last quarter. Advantage Investment Management LLC increased 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 worth $39,000 after buying an additional 300 shares in the last quarter. Rhumbline Advisers increased its holdings in Guardant Health by 1.8% in the 1st quarter. Rhumbline Advisers now owns 20,247 shares of the company’s stock worth $1,553,000 after buying an additional 367 shares in the last quarter. Finally, Pendal Group Ltd increased its holdings in Guardant Health by 8.8% in the 2nd quarter. Pendal Group Ltd now owns 4,845 shares of the company’s stock worth $418,000 after buying an additional 390 shares in the last quarter. Institutional investors own 69.84% of the company’s stock.

The stock has a fifty day moving average price of $89.86. The firm has a market cap of $8.02 billion and a P/E ratio of -39.09.

Guardant Health Company Profile (NASDAQ:GH)

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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