Sumitomo Mitsui Trust Holdings Inc. Sells 26,051 Shares of Guardant Health, Inc. (NASDAQ:GH)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in Guardant Health, Inc. (NASDAQ:GH) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 317,694 shares of the company’s stock after selling 26,051 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Guardant Health were worth $6,554,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in Guardant Health during the first quarter worth about $273,000. Vanguard Group Inc. boosted its stake in Guardant Health by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock worth $301,084,000 after acquiring an additional 180,424 shares in the last quarter. Wellington Management Group LLP boosted its stake in Guardant Health by 24.1% during the fourth quarter. Wellington Management Group LLP now owns 834,084 shares of the company’s stock worth $22,562,000 after acquiring an additional 161,986 shares in the last quarter. Virtu Financial LLC bought a new stake in Guardant Health during the fourth quarter worth about $233,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Guardant Health during the fourth quarter worth about $3,868,000. Institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

GH has been the subject of several recent analyst reports. Canaccord Genuity Group lifted their target price on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Jefferies Financial Group initiated coverage on shares of Guardant Health in a report on Monday, June 3rd. They issued a “buy” rating and a $32.00 target price for the company. Craig Hallum initiated coverage on shares of Guardant Health in a report on Wednesday, April 24th. They issued a “buy” rating and a $28.00 target price for the company. Guggenheim raised shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a report on Friday, June 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $44.00 target price on shares of Guardant Health in a report on Friday, May 24th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Guardant Health has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

Guardant Health Stock Down 0.1 %

GH opened at $27.61 on Thursday. The firm’s 50 day simple moving average is $26.65 and its two-hundred day simple moving average is $23.00. The company has a market capitalization of $3.38 billion, a PE ratio of -7.04 and a beta of 1.13. Guardant Health, Inc. has a 1-year low of $15.81 and a 1-year high of $41.06. The company has a current ratio of 5.95, a quick ratio of 5.66 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, May 9th. The company reported ($0.94) EPS for the quarter, hitting analysts’ consensus estimates of ($0.94). Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. The company had revenue of $168.49 million for the quarter, compared to analysts’ expectations of $150.51 million. As a group, equities analysts forecast that Guardant Health, Inc. will post -3.31 EPS for the current year.

Guardant Health 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.