Guardant Health (NASDAQ:GH) Given New $52.00 Price Target at Scotiabank

Guardant Health (NASDAQ:GH) had its price target hoisted by Scotiabank from $47.00 to $52.00 in a report released on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 20.92% from the stock’s current price.

GH has been the subject of a number of other reports. Sanford C. Bernstein cut their target price on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Barclays started coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They set 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 $49.00 to $56.00 and gave the company a “buy” rating in a report on Friday. Raymond James restated an “outperform” rating and set a $59.00 price target (up previously from $39.00) on shares of Guardant Health in a report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday. Nineteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Guardant Health currently has a consensus rating of “Buy” and a consensus target price of $47.37.

Guardant Health Price Performance

GH traded up $0.13 on Monday, reaching $43.00. 431,493 shares of the company’s stock were exchanged, compared to its average volume of 2,498,636. The stock has a market cap of $5.31 billion, a PE ratio of -12.11 and a beta of 1.32. Guardant Health has a twelve month low of $15.81 and a twelve month high of $50.89. The stock’s fifty day moving average price is $40.19 and its 200-day moving average price is $31.57.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The company had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. As a group, research analysts predict that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Activity at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the sale, the director now owns 2,676 shares of the company’s stock, valued at approximately $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 2,768 shares of company stock worth $98,798. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Guardant Health by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company’s stock worth $368,205,000 after purchasing an additional 350,606 shares in the last quarter. Wellington Management Group LLP increased its position in Guardant Health by 188.6% during the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after buying an additional 6,618,785 shares during the period. Deep Track Capital LP lifted its stake in Guardant Health by 7.0% in the fourth quarter. Deep Track Capital LP now owns 6,419,566 shares of the company’s stock valued at $196,118,000 after buying an additional 419,006 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in shares of Guardant Health by 2.0% in the third quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock valued at $88,028,000 after acquiring an additional 76,762 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Guardant Health by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after acquiring an additional 29,686 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.