Coatue Management LLC Boosts Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

Coatue Management LLC raised its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 31.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,661,203 shares of the company’s stock after purchasing an additional 642,750 shares during the period. Guardant Health accounts for about 1.3% of Coatue Management LLC’s portfolio, making the stock its 27th largest position. Coatue Management LLC’s holdings in Guardant Health were worth $330,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sandy Spring Bank increased its position in Guardant Health by 3,333.3% during the 2nd quarter. Sandy Spring Bank now owns 206 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Tsfg LLC increased its position in Guardant Health by 214.0% during the 2nd quarter. Tsfg LLC now owns 314 shares of the company’s stock valued at $39,000 after purchasing an additional 214 shares during the period. Altshuler Shaham Ltd purchased a new position in Guardant Health during the 1st quarter valued at about $44,000. Harbour Investments Inc. bought a new stake in shares of Guardant Health in the 1st quarter valued at about $61,000. Finally, KB Financial Partners LLC bought a new stake in shares of Guardant Health in the 1st quarter valued at about $74,000. 87.58% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Stanley J. Meresman sold 4,934 shares of the business’s stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $114.31, for a total transaction of $564,005.54. Following the transaction, the director now owns 8,993 shares of the company’s stock, valued at approximately $1,027,989.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 14,802 shares of company stock worth $1,715,453. Corporate insiders own 5.80% of the company’s stock.

GH traded up $3.27 on Thursday, hitting $105.28. 51,965 shares of the company’s stock were exchanged, compared to its average volume of 974,548. Guardant Health, Inc. has a fifty-two week low of $96.66 and a fifty-two week high of $181.07. The company has a current ratio of 19.57, a quick ratio of 19.30 and a debt-to-equity ratio of 1.44. The firm has a 50-day moving average price of $117.43 and a 200-day moving average price of $125.90. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of -27.06 and a beta of 0.51.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, August 5th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.09). Guardant Health had a negative return on equity of 37.35% and a negative net margin of 116.99%. The business had revenue of $92.10 million for the quarter, compared to analyst estimates of $84.63 million. On average, equities analysts predict that Guardant Health, Inc. will post -3.98 EPS for the current year.

A number of research firms have recently weighed in on GH. TheStreet upgraded shares of Guardant Health from a “d” rating to a “c-” rating in a report on Monday, October 4th. Wells Fargo & Company lifted their price objective on shares of Guardant Health from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, June 21st. Zacks Investment Research cut shares of Guardant Health from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Canaccord Genuity cut their target price on shares of Guardant Health from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Guardant Health has a consensus rating of “Buy” and a consensus target price of $164.00.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company, which engages in treatment of cancer through use of proprietary blood-based tests, vast data sets, and advanced analytics. Its solutions include treatment selection, recurrence detection, and early detection. The company was founded by Helmy Eltoukhy, AmirAli H.

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Institutional Ownership by Quarter for Guardant Health (NASDAQ:GH)

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