Key Points
- Guardant Health director Musa Tariq sold 116 shares at an average price of $156.45, generating $18,148.20. The Rule 10b5-1 plan transaction reduced his holdings by 1.01% to 11,316 shares.
- Guardant Health reported stronger-than-expected quarterly results, with revenue rising 44.3% year over year to $334.98 million and a loss of $0.42 per share versus analysts’ expected loss of $0.76.
- Analyst sentiment remains positive: the stock has a “Moderate Buy” consensus rating and an average price target of $183.78, while institutional investors own 92.6% of outstanding shares.
Guardant Health, Inc. (NASDAQ:GH - Get Free Report) Director Musa Tariq sold 116 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $156.45, for a total value of $18,148.20. Following the completion of the transaction, the director directly owned 11,316 shares of the company's stock, valued at $1,770,388.20. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Musa Tariq also recently made the following trade(s):
- On Monday, June 22nd, Musa Tariq sold 1,951 shares of Guardant Health stock. The shares were sold at an average price of $131.16, for a total value of $255,893.16.
- On Tuesday, June 16th, Musa Tariq sold 116 shares of Guardant Health stock. The shares were sold at an average price of $130.19, for a total value of $15,102.04.
Guardant Health Price Performance
Shares of GH stock opened at $160.12 on Wednesday. The company has a market cap of $21.49 billion, a price-to-earnings ratio of -45.88 and a beta of 1.60. The stock has a 50 day simple moving average of $151.74 and a 200-day simple moving average of $117.58. Guardant Health, Inc. has a 1-year low of $53.40 and a 1-year high of $176.58.
Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.76) by $0.34. The company had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. During the same period in the prior year, the business posted ($0.44) EPS. Guardant Health's revenue was up 44.3% compared to the same quarter last year. Analysts anticipate that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Guardant Health
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in Guardant Health by 14.5% during the second quarter. GAMMA Investing LLC now owns 965 shares of the company's stock worth $145,000 after purchasing an additional 122 shares in the last quarter. First Pacific Financial boosted its holdings in shares of Guardant Health by 33.1% in the 1st quarter. First Pacific Financial now owns 559 shares of the company's stock valued at $52,000 after buying an additional 139 shares in the last quarter. ABS Investment Management LLC acquired a new position in shares of Guardant Health in the 2nd quarter valued at $345,069,000. Xponance LLC grew its position in shares of Guardant Health by 2.1% in the 4th quarter. Xponance LLC now owns 9,630 shares of the company's stock valued at $984,000 after buying an additional 199 shares during the last quarter. Finally, Danske Bank A S grew its position in shares of Guardant Health by 20.0% in the 4th quarter. Danske Bank A S now owns 1,200 shares of the company's stock valued at $123,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.
Analyst Ratings Changes
GH has been the topic of several research analyst reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $210.00 target price on shares of Guardant Health in a research report on Friday, July 31st. Guggenheim upped their price target on shares of Guardant Health from $160.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. UBS Group set a $150.00 price target on shares of Guardant Health in a research note on Wednesday, June 24th. Citigroup lifted their price objective on Guardant Health from $150.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Finally, Mizuho boosted their price objective on Guardant Health from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Guardant Health has an average rating of "Moderate Buy" and an average target price of $183.78.
Get Our Latest Research Report on Guardant Health
About Guardant Health
(
Get Free Report)
Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health's mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.
The company's flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
