Point72 DIFC Ltd Takes $242,000 Position in Guardant Health, Inc. (NASDAQ:GH)

Point72 DIFC Ltd acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) in the second quarter, HoldingsChannel reports. The firm acquired 8,372 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds have also added to or reduced their stakes in GH. Principal Financial Group Inc. lifted its holdings in Guardant Health by 10.5% during the 4th 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. Norges Bank bought a new position in shares of Guardant Health during the fourth quarter worth about $25,520,000. US Bancorp DE lifted its stake in shares of Guardant Health by 211.0% in the fourth quarter. US Bancorp DE now owns 38,076 shares of the company’s stock worth $1,030,000 after acquiring an additional 25,832 shares during the period. Hsbc Holdings PLC boosted its holdings in Guardant Health by 151.0% in the fourth quarter. Hsbc Holdings PLC now owns 43,532 shares of the company’s stock valued at $1,182,000 after acquiring an additional 26,191 shares during the last quarter. Finally, NEOS Investment Management LLC acquired a new stake in Guardant Health during the 4th quarter valued at approximately $429,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GH shares. TD Cowen boosted their price target on shares of Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Canaccord Genuity Group boosted their target price on shares of Guardant Health from $30.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. The Goldman Sachs Group increased their price target on Guardant Health from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group started coverage on Guardant Health in a research note on Monday, June 3rd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, UBS Group raised their target price on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.31.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $22.73 on Friday. The stock’s 50 day moving average is $28.08 and its 200-day moving average is $25.11. Guardant Health, Inc. has a twelve month low of $15.81 and a twelve month high of $37.04. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -5.80 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The business had revenue of $177.24 million for the quarter, compared to analyst estimates of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.67) EPS. Sell-side analysts forecast that Guardant Health, Inc. will post -3.31 EPS for the current fiscal 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.