Roth Capital Begins Coverage on Guardant Health (NASDAQ:GH)

Stock analysts at Roth Capital assumed coverage on shares of Guardant Health (NASDAQ:GH) in a report issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating on the stock.

GH has been the subject of a number of other reports. Stephens increased their price objective on shares of Guardant Health from $170.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Barclays upped their target price on shares of Guardant Health from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. UBS Group upped their target price on shares of Guardant Health from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Citigroup raised their target price on shares of Guardant Health from $150.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Guardant Health from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Guardant Health has a consensus rating of “Buy” and an average price target of $190.40.

Guardant Health Price Performance

Shares of NASDAQ:GH traded up $6.14 during mid-day trading on Thursday, reaching $169.08. 1,669,577 shares of the company traded hands, compared to its average volume of 1,756,376. The company’s 50 day moving average price is $168.04 and its 200-day moving average price is $141.69. The firm has a market cap of $22.69 billion, a PE ratio of -48.45 and a beta of 1.58. Guardant Health has a 52 week low of $68.02 and a 52 week high of $191.05.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to the consensus estimate of $314.23 million. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.44) earnings per share. On average, research analysts predict that Guardant Health will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Guardant Health news, insider Terilyn Monroe sold 46,300 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total value of $7,645,056.00. Following the completion of the sale, the insider owned 22,979 shares of the company’s stock, valued at $3,794,292.48. This trade represents a 66.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steve Krognes sold 6,674 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $175.74, for a total value of $1,172,888.76. Following the transaction, the director owned 7,906 shares of the company’s stock, valued at $1,389,400.44. This trade represents a 45.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 178,940 shares of company stock worth $30,070,911 over the last three months. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Guardant Health

A number of large investors have recently bought and sold shares of GH. Ninepoint Partners LP purchased a new position in shares of Guardant Health in the 2nd quarter valued at $2,853,000. Orbimed Advisors LLC acquired a new stake in shares of Guardant Health in the 1st quarter worth $40,199,000. GSA Capital Partners LLP acquired a new stake in shares of Guardant Health in the 2nd quarter worth $1,772,000. Eagle Health Investments LP purchased a new position in Guardant Health during the 2nd quarter worth $45,112,000. Finally, SWS Partners purchased a new position in Guardant Health during the 2nd quarter worth $11,190,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Company Profile

Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based tests and data solutions designed to help detect cancer, guide treatment decisions and monitor patients over time. Its technologies analyze circulating tumor DNA and other molecular information from blood samples, supporting more accessible and less invasive alternatives to some tissue-based testing approaches.

The company’s products include Guardant360, which helps identify genomic alterations in advanced cancers and may inform targeted treatment selection; Guardant360 Response, designed to assess a patient’s response to therapy; and Guardant Reveal, which is used to detect minimal residual disease and recurrence risk in certain cancers.