TD Asset Management Inc Acquires 118,886 Shares of Guardant Health, Inc. $GH

TD Asset Management Inc boosted its holdings in Guardant Health, Inc. (NASDAQ:GH) by 272.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,600 shares of the company’s stock after purchasing an additional 118,886 shares during the period. TD Asset Management Inc owned approximately 0.13% of Guardant Health worth $8,462,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in Guardant Health by 100.9% in the first quarter. Invesco Ltd. now owns 2,794,667 shares of the company’s stock worth $119,053,000 after purchasing an additional 1,403,670 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Guardant Health by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,777,040 shares of the company’s stock worth $118,302,000 after purchasing an additional 164,263 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Guardant Health in the first quarter worth $82,349,000. Northern Trust Corp lifted its stake in Guardant Health by 11.8% in the first quarter. Northern Trust Corp now owns 1,277,280 shares of the company’s stock worth $54,412,000 after purchasing an additional 135,288 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Guardant Health by 202.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 846,749 shares of the company’s stock worth $36,072,000 after purchasing an additional 566,949 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Medina Manuel Hidalgo sold 2,165 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $54.16, for a total transaction of $117,256.40. Following the transaction, the director owned 851 shares in the company, valued at $46,090.16. The trade was a 71.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Helmy Eltoukhy sold 300,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the sale, the chief executive officer directly owned 2,123,499 shares in the company, valued at $126,242,015.55. The trade was a 12.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 302,549 shares of company stock worth $17,975,121 in the last quarter. 6.10% of the stock is owned by corporate insiders.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $65.46 on Monday. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $68.23. The company’s 50-day moving average is $61.06 and its 200 day moving average is $50.96. The stock has a market capitalization of $8.16 billion, a P/E ratio of -19.54 and a beta of 1.53.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Guardant Health from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. TD Cowen boosted their price objective on shares of Guardant Health from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Finally, Wells Fargo & Company assumed coverage on shares of Guardant Health in a research report on Monday, September 22nd. They issued an “overweight” rating and a $72.00 price objective on the stock. Twenty-three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.86.

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.