Guardant Health, Inc. (NASDAQ:GH) Stock Holdings Reduced by abrdn plc

abrdn plc cut its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 19.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,951 shares of the company’s stock after selling 109,522 shares during the period. abrdn plc owned 0.36% of Guardant Health worth $13,532,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Creative Planning acquired a new position in Guardant Health during the second quarter worth $593,000. Truist Financial Corp acquired a new position in shares of Guardant Health during the 2nd quarter valued at about $233,000. SG Americas Securities LLC bought a new position in shares of Guardant Health in the 3rd quarter valued at approximately $1,029,000. Handelsbanken Fonder AB raised its stake in shares of Guardant Health by 14.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,141 shares of the company’s stock valued at $623,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Guardant Health by 14.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 41,009 shares of the company’s stock worth $941,000 after purchasing an additional 5,160 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GH shares. Sanford C. Bernstein lowered their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating on shares of Guardant Health in a research report on Wednesday, January 22nd. Barclays initiated coverage on Guardant Health in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of Guardant Health from $36.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Leerink Partners reduced their price target on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Sixteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $42.63.

Guardant Health Price Performance

GH stock opened at $44.47 on Friday. The company has a 50 day moving average price of $37.94 and a 200 day moving average price of $30.59. Guardant Health, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $50.89. The stock has a market capitalization of $5.49 billion, a PE ratio of -10.49 and a beta of 1.32.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.73) earnings per share. As a group, equities analysts expect that Guardant Health, Inc. will post -3.43 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Meghan V. Joyce sold 2,896 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the sale, the director now owns 7,648 shares of the company’s stock, valued at approximately $228,675.20. This trade represents a 27.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now owns 2,676 shares in the company, valued at approximately $93,660. This represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,548 shares of company stock valued at $179,782 in the last 90 days. 5.50% of the stock is owned by company insiders.

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.