Guardant Health, Inc. (NASDAQ:GH) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in Guardant Health, Inc. (NASDAQ:GH) by 74.6% in the fourth quarter, Holdings Channel reports. The fund owned 479,846 shares of the company’s stock after selling 1,411,038 shares during the period. Jennison Associates LLC’s holdings in Guardant Health were worth $12,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GH. Handelsbanken Fonder AB boosted its stake in Guardant Health by 31.8% during the 4th quarter. Handelsbanken Fonder AB now owns 161,341 shares of the company’s stock worth $4,364,000 after purchasing an additional 38,900 shares during the period. abrdn plc acquired a new stake in shares of Guardant Health in the fourth quarter valued at approximately $9,362,000. Knights of Columbus Asset Advisors LLC increased its position in Guardant Health by 108.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 79,026 shares of the company’s stock worth $2,138,000 after buying an additional 41,059 shares in the last quarter. Strs Ohio lifted its holdings in Guardant Health by 19.0% in the 4th quarter. Strs Ohio now owns 23,800 shares of the company’s stock valued at $643,000 after purchasing an additional 3,800 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Guardant Health by 207.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 343,745 shares of the company’s stock valued at $9,298,000 after buying an additional 231,904 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Piper Sandler cut their target price on Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, February 26th. Canaccord Genuity Group dropped their target price on shares of Guardant Health from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. The Goldman Sachs Group decreased their target price on Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Finally, Craig Hallum began coverage on Guardant Health in a research note on Wednesday. They set a “buy” rating and a $28.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.27.

Insider Transactions at Guardant Health

In related news, insider Kumud Kalia acquired 2,187 shares of Guardant Health stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average price of $17.82 per share, with a total value of $38,972.34. Following the completion of the acquisition, the insider now directly owns 12,722 shares of the company’s stock, valued at approximately $226,706.04. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.20% of the company’s stock.

Guardant Health Trading Down 5.2 %

Guardant Health stock opened at $17.16 on Friday. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $41.06. The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -4.01 and a beta of 0.87. The firm has a 50-day moving average price of $18.94 and a two-hundred day moving average price of $23.00.

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

Guardant Health Company Profile

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.