Guardant Health (NASDAQ:GH) Given New $28.00 Price Target at The Goldman Sachs Group

Guardant Health (NASDAQ:GH) had its target price cut by The Goldman Sachs Group from $32.00 to $28.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their price objective on Guardant Health from $60.00 to $45.00 and set an overweight rating for the company in a report on Friday, February 23rd. Guggenheim restated a neutral rating on shares of Guardant Health in a research note on Friday, April 5th. Canaccord Genuity Group dropped their price objective on Guardant Health from $50.00 to $45.00 and set a buy rating on the stock in a research note on Friday, February 23rd. Finally, Piper Sandler cut their price objective on Guardant Health from $40.00 to $30.00 and set an overweight rating for the company in a report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Guardant Health has an average rating of Moderate Buy and an average price target of $40.40.

Guardant Health Trading Up 1.7 %

Shares of NASDAQ GH opened at $16.67 on Monday. Guardant Health has a fifty-two week low of $15.89 and a fifty-two week high of $41.06. The firm has a market capitalization of $2.03 billion, a P/E ratio of -3.89 and a beta of 0.87. The company has a debt-to-equity ratio of 7.18, a current ratio of 6.54 and a quick ratio of 6.24. The company’s 50 day simple moving average is $19.34 and its 200 day simple moving average is $23.36.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.65). The firm had revenue of $155.05 million during the quarter, compared to analyst estimates of $151.71 million. Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. On average, analysts predict that Guardant Health will post -3.49 EPS for the current year.

Insider Buying and Selling

In other news, insider Kumud Kalia purchased 2,187 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $17.82 per share, with a total value of $38,972.34. Following the acquisition, the insider now owns 12,722 shares in the company, valued at approximately $226,706.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. acquired a new position in shares of Guardant Health in the fourth quarter valued at approximately $167,137,000. Eventide Asset Management LLC raised its stake in shares of Guardant Health by 113.8% during the second quarter. Eventide Asset Management LLC now owns 4,008,602 shares of the company’s stock valued at $143,508,000 after acquiring an additional 2,133,582 shares during the last quarter. Capital International Investors raised its stake in shares of Guardant Health by 71.0% during the first quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock valued at $336,607,000 after acquiring an additional 2,110,240 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Guardant Health by 243.3% in the fourth quarter. Alliancebernstein L.P. now owns 2,515,992 shares of the company’s stock worth $68,435,000 after purchasing an additional 1,783,131 shares during the last quarter. Finally, Norges Bank acquired a new stake in Guardant Health in the fourth quarter valued at $25,520,000. 92.60% of the stock is owned by institutional investors.

About Guardant Health

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.