Van ECK Associates Corp Sells 897 Shares of Guardant Health, Inc. (NASDAQ:GH)

Van ECK Associates Corp lessened its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 31.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,958 shares of the company’s stock after selling 897 shares during the period. Van ECK Associates Corp’s holdings in Guardant Health were worth $45,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Guardant Health by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock worth $235,925,000 after purchasing an additional 305,372 shares during the last quarter. Bank of New York Mellon Corp grew its position in Guardant Health by 31.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock worth $36,973,000 after purchasing an additional 309,157 shares during the last quarter. Railway Pension Investments Ltd grew its position in Guardant Health by 63.8% during the 2nd quarter. Railway Pension Investments Ltd now owns 620,878 shares of the company’s stock worth $17,931,000 after purchasing an additional 241,800 shares during the last quarter. abrdn plc boosted its holdings in shares of Guardant Health by 47.9% in the 3rd quarter. abrdn plc now owns 552,473 shares of the company’s stock valued at $12,674,000 after acquiring an additional 178,882 shares during the last quarter. Finally, ARK Investment Management LLC boosted its holdings in shares of Guardant Health by 25.6% in the 2nd quarter. ARK Investment Management LLC now owns 453,590 shares of the company’s stock valued at $13,100,000 after acquiring an additional 92,424 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

GH has been the topic of several recent research reports. TD Cowen upped their price objective on shares of Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Bank of America upped their price objective on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Leerink Partners dropped their price objective on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Citigroup upped their price objective on shares of Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Guardant Health Stock Performance

NASDAQ:GH opened at $31.61 on Thursday. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. The company has a fifty day moving average of $23.45 and a two-hundred day moving average of $26.31. The stock has a market capitalization of $3.91 billion, a PE ratio of -7.46 and a beta of 1.11. Guardant Health, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $37.04.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The company had revenue of $191.48 million for the quarter, compared to analyst estimates of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business’s revenue was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.73) earnings per share. As a group, research analysts forecast that Guardant Health, Inc. will post -3.38 earnings per share for the current fiscal year.

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.