Insider Selling: Guardant Health, Inc. (NASDAQ:GH) Director Sells $157,573.14 in Stock

Guardant Health, Inc. (NASDAQ:GH) Director Meghan V. Joyce sold 3,337 shares of Guardant Health stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $47.22, for a total transaction of $157,573.14. Following the transaction, the director now directly owns 11,150 shares of the company’s stock, valued at approximately $526,503. This represents a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Guardant Health Stock Performance

Shares of GH opened at $50.57 on Thursday. The company has a 50 day moving average price of $44.16 and a 200-day moving average price of $41.86. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $52.92. The stock has a market capitalization of $6.27 billion, a PE ratio of -14.92 and a beta of 1.37.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.08. Guardant Health had a negative net margin of 53.82% and a negative return on equity of 1,200.44%. The firm had revenue of $203.47 million during the quarter, compared to analysts’ expectations of $189.91 million. During the same quarter in the prior year, the company earned ($0.46) EPS. The company’s revenue was up 20.8% compared to the same quarter last year. Equities research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price target (up from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $59.00 price target (up from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Guardant Health in a research note on Monday, May 5th. Morgan Stanley lifted their price target on shares of Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Twenty-one research analysts have rated the stock with a buy rating, According to MarketBeat, Guardant Health presently has a consensus rating of “Buy” and a consensus price target of $53.76.

Institutional Investors Weigh In On Guardant Health

Several hedge funds have recently modified their holdings of GH. Van ECK Associates Corp lifted its position in shares of Guardant Health by 47.4% in the 4th quarter. Van ECK Associates Corp now owns 2,887 shares of the company’s stock worth $88,000 after purchasing an additional 929 shares during the period. Rhumbline Advisers lifted its position in shares of Guardant Health by 2.2% in the 4th quarter. Rhumbline Advisers now owns 167,230 shares of the company’s stock worth $5,109,000 after purchasing an additional 3,529 shares during the period. Guyasuta Investment Advisors Inc. purchased a new stake in shares of Guardant Health in the 4th quarter worth approximately $206,000. D.A. Davidson & CO. lifted its position in shares of Guardant Health by 72.1% in the 4th quarter. D.A. Davidson & CO. now owns 42,380 shares of the company’s stock worth $1,295,000 after purchasing an additional 17,755 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Guardant Health by 6.6% during the 4th quarter. Handelsbanken Fonder AB now owns 28,941 shares of the company’s stock worth $884,000 after acquiring an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.