Guardant Health (NASDAQ:GH) Price Target Raised to $52.00

Guardant Health (NASDAQ:GH) had its price target lifted by Scotiabank from $47.00 to $52.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Guardant Health from $49.00 to $56.00 and gave the company a “buy” rating in a report on Friday, February 21st. Canaccord Genuity Group upped their target price on Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. Guggenheim reaffirmed a “buy” rating and set a $56.00 price target on shares of Guardant Health in a research report on Monday. Raymond James reiterated an “outperform” rating and issued a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Nineteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $48.21.

Guardant Health Trading Up 7.0 %

Guardant Health stock opened at $43.19 on Monday. The stock has a market cap of $5.33 billion, a P/E ratio of -12.13 and a beta of 1.32. The company has a fifty day simple moving average of $40.65 and a 200-day simple moving average of $31.82. Guardant Health has a 12-month low of $15.81 and a 12-month high of $50.89.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The business had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. As a group, sell-side analysts forecast that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the business’s stock in a transaction 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 transaction, the director now owns 2,676 shares in the company, valued at $93,660. The trade was a 46.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 2,768 shares of company stock worth $98,798 in the last ninety days. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Large investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC acquired a new stake in Guardant Health in the third quarter worth $15,624,000. Guyasuta Investment Advisors Inc. acquired a new stake in Guardant Health in the fourth quarter worth approximately $206,000. Cerity Partners LLC boosted its stake in Guardant Health by 54.6% during the third quarter. Cerity Partners LLC now owns 195,008 shares of the company’s stock valued at $4,473,000 after buying an additional 68,883 shares in the last quarter. Geode Capital Management LLC grew its holdings in Guardant Health by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after acquiring an additional 29,686 shares during the period. Finally, Entropy Technologies LP bought a new stake in Guardant Health in the fourth quarter worth about $377,000. Institutional investors own 92.60% of the company’s stock.

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.