Guardant Health (NASDAQ:GH) Price Target Cut to $28.00 by Analysts at The Goldman Sachs Group

Guardant Health (NASDAQ:GH) had its price target lowered by The Goldman Sachs Group from $32.00 to $28.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on GH. JPMorgan Chase & Co. lowered their price objective on Guardant Health from $60.00 to $45.00 and set an overweight rating for the company in a research note on Friday, February 23rd. Canaccord Genuity Group lowered their price objective on Guardant Health from $50.00 to $45.00 and set a buy rating for the company in a research note on Friday, February 23rd. Piper Sandler lowered their price objective on Guardant Health from $40.00 to $30.00 and set an overweight rating for the company in a research note on Monday, February 26th. Finally, Guggenheim reaffirmed a neutral rating on shares of Guardant Health in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Guardant Health has an average rating of Moderate Buy and a consensus target price of $40.40.

Guardant Health Stock Down 6.6 %

GH stock opened at $17.06 on Monday. Guardant Health has a fifty-two week low of $16.92 and a fifty-two week high of $41.06. The business’s 50-day moving average is $19.70 and its two-hundred day moving average is $23.55. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -3.99 and a beta of 0.87.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.65). Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. The firm had revenue of $155.05 million for the quarter, compared to the consensus estimate of $151.71 million. As a group, analysts forecast that Guardant Health will post -3.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Kumud Kalia purchased 2,187 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were acquired at an average cost of $17.82 per share, for a total transaction of $38,972.34. Following the acquisition, the insider now owns 12,722 shares of the company’s stock, valued at approximately $226,706.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GH. CWM LLC increased its holdings in shares of Guardant Health by 137.1% in the 3rd quarter. CWM LLC now owns 984 shares of the company’s stock valued at $29,000 after acquiring an additional 569 shares during the period. BluePath Capital Management LLC purchased a new position in shares of Guardant Health in the 3rd quarter valued at $35,000. Acadian Asset Management LLC acquired a new stake in shares of Guardant Health in the 1st quarter worth $37,000. Captrust Financial Advisors boosted its position in shares of Guardant Health by 33.2% in the 2nd quarter. Captrust Financial Advisors now owns 1,087 shares of the company’s stock worth $44,000 after purchasing an additional 271 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Guardant Health by 362.3% in the 4th quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock worth $64,000 after purchasing an additional 1,844 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.