Guardant Health (NASDAQ:GH) Releases Earnings Results, Misses Estimates By $1.00 EPS

Guardant Health (NASDAQ:GHGet Rating) announced its earnings results on Thursday. The company reported ($2.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by ($1.00), Briefing.com reports. Guardant Health had a negative return on equity of 87.59% and a negative net margin of 135.03%. The company had revenue of $109.14 million for the quarter, compared to analyst estimates of $105.14 million. During the same quarter in the previous year, the company posted ($0.96) earnings per share. Guardant Health’s revenue for the quarter was up 18.5% on a year-over-year basis. Guardant Health updated its FY 2022 guidance to EPS.

Guardant Health Trading Up 3.6 %

Shares of Guardant Health stock traded up $1.83 during mid-day trading on Friday, hitting $52.92. 1,883,917 shares of the stock were exchanged, compared to its average volume of 979,619. Guardant Health has a 12 month low of $27.65 and a 12 month high of $133.82. The company has a 50-day simple moving average of $44.52 and a 200 day simple moving average of $54.80. The company has a debt-to-equity ratio of 2.13, a current ratio of 4.87 and a quick ratio of 4.71.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors grew its position in Guardant Health by 71.0% in the first quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock worth $336,607,000 after acquiring an additional 2,110,240 shares in the last quarter. Clearbridge Investments LLC grew its position in Guardant Health by 8.0% in the first quarter. Clearbridge Investments LLC now owns 3,354,024 shares of the company’s stock worth $222,171,000 after acquiring an additional 247,486 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Guardant Health by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 557,033 shares of the company’s stock valued at $36,898,000 after buying an additional 12,600 shares during the period. Ensign Peak Advisors Inc boosted its position in Guardant Health by 1,394.7% during the first quarter. Ensign Peak Advisors Inc now owns 312,084 shares of the company’s stock valued at $20,672,000 after buying an additional 291,204 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Guardant Health by 15.6% during the first quarter. The Manufacturers Life Insurance Company now owns 304,448 shares of the company’s stock valued at $20,195,000 after buying an additional 40,985 shares during the period. Institutional investors own 93.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GH. OTR Global downgraded shares of Guardant Health to a “positive” rating in a research note on Monday, August 1st. Citigroup lowered their price objective on shares of Guardant Health from $120.00 to $100.00 in a research report on Friday, May 6th. Finally, Piper Sandler initiated coverage on shares of Guardant Health in a research report on Thursday, June 2nd. They set an “overweight” rating and a $65.00 price objective for the company. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $131.73.

Guardant Health Company Profile

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Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers Guardant360, Guardant360 LDT, Guardant360 CDx, and GuardantOMNI liquid biopsy-based tests for advanced stage cancer; and GuardantINFORM, an in-silico research platform that comprise a clinical-genomic liquid biopsy dataset of advanced cancer patients.

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Earnings History for Guardant Health (NASDAQ:GH)

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