Guardant Health, Inc. (NASDAQ:GH) Stock Holdings Raised by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,298 shares of the company’s stock after purchasing an additional 10,162 shares during the period. Rhumbline Advisers owned about 0.14% of Guardant Health worth $5,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in Guardant Health in the 4th quarter valued at approximately $326,000. Truist Financial Corp purchased a new position in shares of Guardant Health in the fourth quarter worth approximately $258,000. Victory Capital Management Inc. raised its stake in Guardant Health by 21.2% during the 4th quarter. Victory Capital Management Inc. now owns 15,048 shares of the company’s stock valued at $407,000 after purchasing an additional 2,632 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Guardant Health by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,232,117 shares of the company’s stock valued at $33,329,000 after purchasing an additional 20,618 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Guardant Health by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 13,045 shares of the company’s stock worth $353,000 after buying an additional 1,240 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Stock Performance

NASDAQ GH opened at $26.79 on Monday. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07. The company’s fifty day moving average is $29.20 and its two-hundred day moving average is $24.88. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $37.04. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -6.83 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.10). Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The firm had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. During the same period last year, the company earned ($0.67) EPS. The company’s revenue was up 29.2% on a year-over-year basis. Equities research analysts forecast that Guardant Health, Inc. will post -3.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GH. Bank of America increased their price objective on Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Jefferies Financial Group initiated coverage on Guardant Health in a report on Monday, June 3rd. They set a “buy” rating and a $32.00 price target for the company. TD Cowen increased their price target on shares of Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. BTIG Research raised their target price on Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Piper Sandler upped their price target on Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.31.

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.