Handelsbanken Fonder AB Purchases 38,900 Shares of Guardant Health, Inc. (NASDAQ:GH)

Handelsbanken Fonder AB raised its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 31.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,341 shares of the company’s stock after purchasing an additional 38,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Guardant Health were worth $4,364,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Guardant Health by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,950,230 shares of the company’s stock valued at $324,565,000 after purchasing an additional 146,902 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Guardant Health during the fourth quarter worth $167,137,000. Jennison Associates LLC lifted its holdings in shares of Guardant Health by 27.1% during the third quarter. Jennison Associates LLC now owns 1,890,884 shares of the company’s stock worth $56,046,000 after buying an additional 403,475 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Guardant Health by 31.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,211,499 shares of the company’s stock worth $35,909,000 after buying an additional 292,888 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Guardant Health by 22.1% during the third quarter. Federated Hermes Inc. now owns 1,109,500 shares of the company’s stock worth $32,886,000 after buying an additional 200,500 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Price Performance

NASDAQ:GH opened at $17.16 on Friday. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. The stock’s 50-day moving average is $18.94 and its 200-day moving average is $23.00. Guardant Health, Inc. has a 1-year low of $15.81 and a 1-year high of $41.06.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on GH. Craig Hallum began coverage on Guardant Health in a report on Wednesday. They set a “buy” rating and a $28.00 target price for the company. Guggenheim reaffirmed a “neutral” rating on shares of Guardant Health in a research note on Friday, April 5th. Canaccord Genuity Group dropped their price target on Guardant Health from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Piper Sandler dropped their price target on Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. dropped their price target on Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Guardant Health has an average rating of “Moderate Buy” and a consensus target price of $39.27.

Insider Buying and Selling

In related news, insider Kumud Kalia acquired 2,187 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average cost of $17.82 per share, with a total value of $38,972.34. Following the completion of the purchase, the insider now directly owns 12,722 shares in the company, valued at $226,706.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.20% of the stock is owned by insiders.

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.