D.A. Davidson & CO. Sells 1,920 Shares of Guardant Health, Inc. (NASDAQ:GH)

D.A. Davidson & CO. lessened its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,625 shares of the company’s stock after selling 1,920 shares during the quarter. D.A. Davidson & CO.’s holdings in Guardant Health were worth $565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GH. Fiduciary Alliance LLC bought a new stake in shares of Guardant Health in the second quarter valued at about $319,000. Canton Hathaway LLC acquired a new position in shares of Guardant Health during the 2nd quarter worth approximately $59,000. Byrne Asset Management LLC purchased a new stake in shares of Guardant Health in the second quarter valued at about $77,000. Fullcircle Wealth LLC acquired a new stake in shares of Guardant Health during the 2nd quarter worth approximately $211,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Guardant Health by 31.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock valued at $36,973,000 after purchasing an additional 309,157 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Buying and Selling at Guardant Health

In related news, Director Meghan V. Joyce sold 2,896 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the sale, the director now directly owns 7,648 shares of the company’s stock, valued at $228,675.20. This represents a 27.47 % 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 link. Insiders own 5.50% of the company’s stock.

Guardant Health Stock Performance

Shares of GH opened at $35.52 on Tuesday. The firm has a 50-day moving average of $25.21 and a 200-day moving average of $27.37. The company has a market cap of $4.39 billion, a PE ratio of -8.38 and a beta of 1.11. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.22 and a quick ratio of 5.85. Guardant Health, Inc. has a one year low of $15.81 and a one year high of $37.04.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The firm had revenue of $191.48 million for the quarter, compared to analyst estimates of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.73) earnings per share. As a group, equities analysts forecast that Guardant Health, Inc. will post -3.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Craig Hallum increased their target price on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Sanford C. Bernstein lowered their target price on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Leerink Partners cut their target price on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Piper Sandler boosted their price objective on shares of Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lifted their price target on Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.60.

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.