Guardant Health (NASDAQ:GH) Trading Down 2.9%

Shares of Guardant Health, Inc. (NASDAQ:GH) dropped 2.9% during trading on Tuesday . The stock traded as low as $26.67 and last traded at $26.78. Approximately 64,762 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 1,997,909 shares. The stock had previously closed at $27.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GH shares. The Goldman Sachs Group reduced their target price on shares of Guardant Health from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Stephens reissued an “overweight” rating and set a $44.00 target price on shares of Guardant Health in a report on Friday, May 24th. Canaccord Genuity Group boosted their price target on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Craig Hallum assumed coverage on shares of Guardant Health in a research report on Wednesday, April 24th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Guardant Health in a research report on Monday, June 3rd. They issued a “buy” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Guardant Health has an average rating of “Moderate Buy” and an average target price of $36.83.

Guardant Health Stock Performance

The company has a debt-to-equity ratio of 16.70, a current ratio of 5.95 and a quick ratio of 5.66. The company’s fifty day simple moving average is $26.65 and its two-hundred day simple moving average is $23.00. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -7.04 and a beta of 1.13.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, May 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.94). Guardant Health had a negative net margin of 76.34% and a negative return on equity of 246.47%. The firm had revenue of $168.49 million during the quarter, compared to analyst estimates of $150.51 million. On average, analysts forecast that Guardant Health, Inc. will post -3.31 earnings per share for the current year.

Hedge Funds Weigh In On Guardant Health

Institutional investors have recently added to or reduced their stakes in the stock. Fiduciary Alliance LLC purchased a new stake in Guardant Health during the second quarter valued at about $319,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Guardant Health by 7.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 152,986 shares of the company’s stock valued at $3,156,000 after purchasing an additional 10,000 shares during the last quarter. Beck Bode LLC lifted its holdings in Guardant Health by 42.6% during the first quarter. Beck Bode LLC now owns 203,596 shares of the company’s stock valued at $4,200,000 after purchasing an additional 60,851 shares during the last quarter. Adalta Capital Management LLC lifted its holdings in Guardant Health by 15.6% during the first quarter. Adalta Capital Management LLC now owns 71,023 shares of the company’s stock valued at $1,465,000 after purchasing an additional 9,565 shares during the last quarter. Finally, First Light Asset Management LLC lifted its holdings in Guardant Health by 31.7% during the first quarter. First Light Asset Management LLC now owns 189,765 shares of the company’s stock valued at $3,915,000 after purchasing an additional 45,716 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

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.