Summit Partners Public Asset Management LLC Boosts Holdings in Guardant Health, Inc. $GH

Summit Partners Public Asset Management LLC increased its stake in Guardant Health, Inc. (NASDAQ:GH) by 674.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 851,958 shares of the company’s stock after purchasing an additional 741,958 shares during the period. Guardant Health makes up 1.8% of Summit Partners Public Asset Management LLC’s holdings, making the stock its 10th biggest holding. Summit Partners Public Asset Management LLC owned 0.68% of Guardant Health worth $87,019,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of GH. Alyeska Investment Group L.P. bought a new position in shares of Guardant Health in the third quarter worth $114,421,000. Norges Bank bought a new position in Guardant Health in the fourth quarter valued at about $128,499,000. Franklin Resources Inc. grew its position in Guardant Health by 26.1% in the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock valued at $182,836,000 after acquiring an additional 606,368 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Guardant Health in the fourth quarter valued at about $55,073,000. Finally, Erste Asset Management GmbH grew its position in Guardant Health by 48.3% in the fourth quarter. Erste Asset Management GmbH now owns 1,045,917 shares of the company’s stock valued at $106,781,000 after acquiring an additional 340,700 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

Insider Activity

In other news, Director Medina Manuel Hidalgo sold 1,000 shares of Guardant Health stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $130.06, for a total transaction of $130,060.00. Following the sale, the director directly owned 639 shares of the company’s stock, valued at approximately $83,108.34. This trade represents a 61.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Meghan V. Joyce sold 10,000 shares of Guardant Health stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $126.98, for a total value of $1,269,800.00. Following the sale, the director directly owned 11,183 shares in the company, valued at $1,420,017.34. The trade was a 47.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 449,006 shares of company stock valued at $51,148,938. 5.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GH has been the topic of a number of recent analyst reports. Raymond James Financial reiterated an “outperform” rating and issued a $129.00 target price on shares of Guardant Health in a research report on Monday, February 23rd. TD Cowen reiterated a “buy” rating on shares of Guardant Health in a research report on Thursday, May 21st. BTIG Research set a $160.00 target price on Guardant Health and gave the company a “buy” rating in a research report on Wednesday, May 27th. Stifel Nicolaus lifted their target price on Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Barclays lifted their target price on Guardant Health from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.95.

Guardant Health Trading Down 1.9%

Shares of GH stock opened at $127.34 on Wednesday. The business’s 50-day moving average price is $104.90 and its 200-day moving average price is $102.36. Guardant Health, Inc. has a 12 month low of $40.35 and a 12 month high of $135.00. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of -37.56 and a beta of 1.61.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.