Guardant Health, Inc. (NASDAQ:GH) Stake Lessened by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd trimmed its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 25.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,561,979 shares of the company’s stock after selling 526,215 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Guardant Health were worth $47,718,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Guardant Health in the 4th quarter worth about $26,000. SBI Securities Co. Ltd. bought a new stake in Guardant Health in the fourth quarter valued at about $43,000. Kimelman & Baird LLC acquired a new stake in Guardant Health during the fourth quarter valued at approximately $58,000. NewEdge Advisors LLC raised its stake in Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after buying an additional 230 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Guardant Health during the 4th quarter worth approximately $61,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Guardant Health

In other news, CEO Amirali Talasaz sold 106,784 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $49.01, for a total value of $5,233,483.84. Following the transaction, the chief executive officer now owns 2,202,672 shares in the company, valued at $107,952,954.72. This represents a 4.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 107,132 shares of company stock worth $5,249,355. 6.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GH has been the subject of several research reports. The Goldman Sachs Group lifted their target price on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Stephens reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of Guardant Health in a report on Wednesday, March 26th. UBS Group boosted their target price on shares of Guardant Health from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Barclays raised their price target on shares of Guardant Health from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Finally, Mizuho started coverage on shares of Guardant Health in a report on Thursday, April 10th. They issued an “outperform” rating and a $55.00 price target for the company. Twenty-one research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $52.32.

Guardant Health Price Performance

Shares of GH opened at $40.67 on Friday. Guardant Health, Inc. has a 12-month low of $20.14 and a 12-month high of $52.92. The firm’s 50 day moving average is $43.81 and its 200-day moving average is $39.64. The stock has a market capitalization of $5.04 billion, a P/E ratio of -11.42 and a beta of 1.49.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.08. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The firm had revenue of $203.47 million for the quarter, compared to the consensus estimate of $189.91 million. During the same quarter in the previous year, the company earned ($0.46) EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, equities research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

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.