Guardant Health, Inc. (NASDAQ:GH) Expected to Earn Q2 2023 Earnings of ($1.27) Per Share

Guardant Health, Inc. (NASDAQ:GH – Get Rating) – Investment analysts at William Blair upped their Q2 2023 earnings per share (EPS) estimates for shares of Guardant Health in a report issued on Tuesday, May 16th. William Blair analyst A. Brackmann now expects that the company will post earnings of ($1.27) per share for the quarter, up from their prior estimate of ($1.29). The consensus estimate for Guardant Health’s current full-year earnings is ($4.71) per share. William Blair also issued estimates for Guardant Health’s Q3 2023 earnings at ($1.17) EPS, Q4 2023 earnings at ($1.07) EPS, FY2023 earnings at ($4.82) EPS and FY2024 earnings at ($4.20) EPS.

Several other analysts also recently weighed in on GH. The Goldman Sachs Group decreased their target price on Guardant Health from $70.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, February 6th. UBS Group assumed coverage on Guardant Health in a research note on Friday, May 5th. They issued a “buy” rating and a $40.00 target price for the company. Morgan Stanley reduced their price objective on Guardant Health from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, February 27th. Credit Suisse Group dropped their price objective on Guardant Health from $60.00 to $55.00 in a research note on Wednesday, May 10th. Finally, Citigroup lowered Guardant Health from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $60.00 to $33.00 in a research note on Thursday, March 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and an average price target of $55.80.

Guardant Health Stock Performance

Shares of GH stock opened at $30.06 on Friday. The company has a debt-to-equity ratio of 18.90, a current ratio of 5.41 and a quick ratio of 5.18. Guardant Health has a fifty-two week low of $20.67 and a fifty-two week high of $62.75. The stock’s 50-day moving average is $24.79 and its two-hundred day moving average is $32.10. The firm has a market cap of $3.09 billion, a P/E ratio of -4.63 and a beta of 0.82.

Guardant Health (NASDAQ:GH – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported ($1.36) earnings per share for the quarter, beating the consensus estimate of ($1.40) by $0.04. The business had revenue of $126.89 million during the quarter, compared to analyst estimates of $125.43 million. Guardant Health had a negative return on equity of 530.36% and a negative net margin of 137.90%.

Institutional Trading of Guardant Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GH. Ameritas Advisory Services LLC purchased a new position in shares of Guardant Health in the first quarter worth about $27,000. Acadian Asset Management LLC purchased a new stake in shares of Guardant Health in the 1st quarter valued at approximately $37,000. Captrust Financial Advisors grew its holdings in shares of Guardant Health by 33.2% in the second quarter. Captrust Financial Advisors now owns 1,087 shares of the company’s stock valued at $44,000 after purchasing an additional 271 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Guardant Health in the fourth quarter valued at approximately $48,000. Finally, Itau Unibanco Holding S.A. grew its holdings in Guardant Health by 68.7% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,760 shares of the company’s stock worth $48,000 after acquiring an additional 717 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Insider Activity

In other Guardant Health news, CEO Helmy Eltoukhy bought 8,600 shares of Guardant Health stock in a transaction dated Wednesday, March 15th. The shares were purchased at an average cost of $26.15 per share, for a total transaction of $224,890.00. Following the acquisition, the chief executive officer now directly owns 2,049,238 shares in the company, valued at approximately $53,587,573.70. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Guardant Health news, CEO Amirali Talasaz purchased 40,000 shares of Guardant Health stock in a transaction dated Monday, March 13th. The stock was acquired at an average price of $25.66 per share, for a total transaction of $1,026,400.00. Following the acquisition, the chief executive officer now owns 1,893,845 shares in the company, valued at approximately $48,596,062.70. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Helmy Eltoukhy bought 8,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were purchased at an average cost of $26.15 per share, with a total value of $224,890.00. Following the transaction, the chief executive officer now directly owns 2,049,238 shares of the company’s stock, valued at $53,587,573.70. The disclosure for this purchase can be found here. Insiders own 5.90% of the company’s stock.

Guardant Health Company Profile

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Guardant Health, Inc is a precision oncology company engaged in the treatment of cancer through the use of proprietary blood-based tests, vast data sets, and advanced analytics. Its solutions include treatment selection, recurrence detection, and early detection. The company was founded by Helmy Eltoukhy, AmirAli H.