Guardant Health (NASDAQ:GH) Shares Down 6.9% Following Weak Earnings

Shares of Guardant Health, Inc. (NASDAQ:GH) were down 6.9% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $43.60 and last traded at $44.12. Approximately 2,146,754 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 2,455,924 shares. The stock had previously closed at $47.40.

The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). The firm had revenue of $201.81 million for the quarter, compared to analysts’ expectations of $192.50 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GH shares. Guggenheim reiterated a “buy” rating on shares of Guardant Health in a research note on Wednesday, January 22nd. Barclays started coverage on Guardant Health in a research report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price target on the stock. The Goldman Sachs Group boosted their price objective on Guardant Health from $36.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Raymond James reaffirmed an “outperform” rating and issued a $59.00 target price (up previously from $39.00) on shares of Guardant Health in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price objective on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday. Eighteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $44.39.

Insider Activity at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now owns 2,676 shares of the company’s stock, valued at $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 2,652 shares of company stock valued at $93,192 over the last ninety days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Guardant Health by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock valued at $377,000 after acquiring an additional 391 shares during the period. Arizona State Retirement System raised its position in Guardant Health by 1.1% during the 4th quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock valued at $1,089,000 after purchasing an additional 403 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Guardant Health by 21.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock valued at $102,000 after purchasing an additional 796 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in Guardant Health by 43.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock valued at $82,000 after purchasing an additional 817 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Trading Down 8.1 %

The stock has a market capitalization of $5.38 billion, a P/E ratio of -10.29 and a beta of 1.32. The company has a 50-day moving average price of $40.03 and a 200 day moving average price of $31.51.

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.