Guardant Health (NASDAQ:GH) Shares Down 4.7% – What’s Next?

Guardant Health, Inc. (NASDAQ:GH) shares dropped 4.7% on Friday . The company traded as low as $106.39 and last traded at $103.4180. Approximately 204,699 shares changed hands during trading, a decline of 92% from the average daily volume of 2,456,233 shares. The stock had previously closed at $108.52.

Analyst Ratings Changes

A number of brokerages have issued reports on GH. Canaccord Genuity Group set a $100.00 price objective on shares of Guardant Health in a research note on Thursday, October 30th. Cowen restated a “buy” rating on shares of Guardant Health in a research report on Thursday, October 30th. William Blair reiterated an “outperform” rating on shares of Guardant Health in a report on Thursday, September 25th. Stifel Nicolaus set a $73.00 target price on Guardant Health in a research note on Thursday, September 25th. Finally, TD Cowen boosted their target price on Guardant Health from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Twenty-three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.86.

Guardant Health Stock Down 5.7%

The company’s fifty day moving average is $83.83 and its 200 day moving average is $62.66. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of -31.90 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.09. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.88) EPS. On average, equities research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Activity at Guardant Health

In other Guardant Health news, Director Medina Manuel Hidalgo sold 2,165 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $54.16, for a total value of $117,256.40. Following the transaction, the director owned 851 shares in the company, valued at approximately $46,090.16. This represents a 71.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Saia sold 8,996 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $96.25, for a total value of $865,865.00. Following the completion of the sale, the insider directly owned 43,172 shares of the company’s stock, valued at $4,155,305. This trade represents a 17.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 368,228 shares of company stock worth $24,835,525 over the last quarter. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

A number of large investors have recently modified their holdings of the company. Allworth Financial LP raised its holdings in Guardant Health by 19.5% during the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after buying an additional 138 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Guardant Health in the third quarter valued at $327,000. CIBC Bancorp USA Inc. bought a new stake in Guardant Health during the third quarter valued at approximately $796,000. Danske Bank A S bought a new stake in Guardant Health during the third quarter worth about $62,000. Finally, Castleark Management LLC lifted its position in Guardant Health by 31.7% in the 3rd quarter. Castleark Management LLC now owns 160,073 shares of the company’s stock worth $10,001,000 after buying an additional 38,513 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

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.