Guardant Health (NASDAQ:GH) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Guardant Health (NASDAQ:GH) in a report issued on Monday, MarketBeat reports. The firm set an “overweight” rating and a $72.00 price target on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 20.44% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Scotiabank upped their target price on shares of Guardant Health from $57.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. BTIG Research reissued a “buy” rating and set a $70.00 price objective on shares of Guardant Health in a report on Monday. Evercore ISI raised shares of Guardant Health to a “strong-buy” rating in a report on Monday, July 14th. Mizuho boosted their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Finally, Raymond James Financial boosted their price objective on shares of Guardant Health from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating and seventeen have given a Buy rating to the company. According to MarketBeat, Guardant Health currently has an average rating of “Buy” and a consensus price target of $59.00.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $59.78 on Monday. Guardant Health has a 1 year low of $20.14 and a 1 year high of $68.00. The company’s 50-day moving average is $54.65 and its 200 day moving average is $48.41. The stock has a market capitalization of $7.46 billion, a P/E ratio of -17.84 and a beta of 1.45.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.08. The business had revenue of $232.09 million for the quarter, compared to the consensus estimate of $211.19 million. During the same period in the previous year, the firm earned ($0.84) EPS. The company’s revenue was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. Research analysts anticipate that Guardant Health will post -2.9 earnings per share for the current year.

Insider Transactions at Guardant Health

In related news, CEO Helmy Eltoukhy sold 300,000 shares of Guardant Health stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the completion of the sale, the chief executive officer owned 2,123,499 shares in the company, valued at $126,242,015.55. This trade represents a 12.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amirali Talasaz sold 100,000 shares of Guardant Health stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the sale, the chief executive officer owned 1,971,830 shares of the company’s stock, valued at $100,326,710.40. The trade was a 4.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 402,691 shares of company stock worth $23,069,965. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in Guardant Health by 27.3% during the 2nd quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock valued at $185,184,000 after buying an additional 763,834 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Guardant Health by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,920,714 shares of the company’s stock valued at $152,014,000 after buying an additional 13,088 shares in the last quarter. ARK Investment Management LLC increased its position in Guardant Health by 100.4% during the 2nd quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock valued at $146,935,000 after purchasing an additional 1,414,381 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Guardant Health by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,777,040 shares of the company’s stock valued at $118,302,000 after purchasing an additional 164,263 shares during the period. Finally, Franklin Resources Inc. increased its position in Guardant Health by 78.2% during the 2nd quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock valued at $120,730,000 after purchasing an additional 1,018,144 shares during the period. 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.