Geode Capital Management LLC Acquires 29,686 Shares of Guardant Health, Inc. (NASDAQ:GH)

Geode Capital Management LLC raised its holdings in Guardant Health, Inc. (NASDAQ:GH) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,822,220 shares of the company’s stock after purchasing an additional 29,686 shares during the period. Geode Capital Management LLC owned approximately 2.28% of Guardant Health worth $64,754,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC increased its position in shares of Guardant Health by 54.6% in the third quarter. Cerity Partners LLC now owns 195,008 shares of the company’s stock worth $4,473,000 after purchasing an additional 68,883 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Guardant Health by 1,282.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock worth $28,128,000 after buying an additional 1,137,482 shares in the last quarter. First Light Asset Management LLC increased its holdings in Guardant Health by 119.7% in the 2nd quarter. First Light Asset Management LLC now owns 416,967 shares of the company’s stock valued at $12,042,000 after buying an additional 227,202 shares during the period. Pier Capital LLC raised its position in shares of Guardant Health by 36.7% in the 3rd quarter. Pier Capital LLC now owns 158,429 shares of the company’s stock valued at $3,634,000 after buying an additional 42,575 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Guardant Health by 52.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,177,300 shares of the company’s stock worth $27,007,000 after acquiring an additional 406,500 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the sale, the director now directly owns 7,648 shares in the company, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Musa Tariq sold 2,320 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares in the company, valued at approximately $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,432 shares of company stock worth $175,423. Company insiders own 5.50% of the company’s stock.

Guardant Health Stock Performance

NASDAQ GH opened at $31.67 on Friday. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -7.47 and a beta of 1.26. The company has a quick ratio of 5.85, a current ratio of 6.22 and a debt-to-equity ratio of 16.70. Guardant Health, Inc. has a twelve month low of $15.81 and a twelve month high of $38.53. The stock has a fifty day simple moving average of $29.13 and a 200 day simple moving average of $28.35.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company had revenue of $191.48 million during the quarter, compared to analyst estimates of $170.49 million. During the same period in the previous year, the company posted ($0.73) EPS. The company’s quarterly revenue was up 33.9% on a year-over-year basis. Sell-side analysts expect that Guardant Health, Inc. will post -3.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Leerink Partners reduced their price objective on Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein lowered their target price on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Fifteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $40.60.

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.