abrdn plc Acquires New Holdings in Guardant Health, Inc. (NASDAQ:GH)

abrdn plc acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 346,084 shares of the company’s stock, valued at approximately $9,362,000. abrdn plc owned 0.29% of Guardant Health as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in Guardant Health by 2.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,854 shares of the company’s stock valued at $500,000 after acquiring an additional 453 shares in the last quarter. Amalgamated Bank raised its stake in shares of Guardant Health by 3.2% during the 3rd quarter. Amalgamated Bank now owns 17,058 shares of the company’s stock worth $506,000 after purchasing an additional 521 shares in the last quarter. CWM LLC raised its stake in shares of Guardant Health by 137.1% during the 3rd quarter. CWM LLC now owns 984 shares of the company’s stock worth $29,000 after purchasing an additional 569 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Guardant Health by 2.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 32,238 shares of the company’s stock worth $956,000 after purchasing an additional 670 shares in the last quarter. Finally, Keybank National Association OH raised its stake in shares of Guardant Health by 10.9% during the 3rd quarter. Keybank National Association OH now owns 6,933 shares of the company’s stock worth $205,000 after purchasing an additional 680 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $17.35 on Friday. The company has a debt-to-equity ratio of 7.18, a current ratio of 6.54 and a quick ratio of 6.24. The stock’s fifty day moving average price is $18.84 and its two-hundred day moving average price is $22.96. Guardant Health, Inc. has a one year low of $15.81 and a one year high of $41.06. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -4.05 and a beta of 0.87.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $151.71 million. On average, equities analysts forecast that Guardant Health, Inc. will post -3.49 EPS for the current year.

Insider Transactions at Guardant Health

In related news, insider Kumud Kalia bought 2,187 shares of Guardant Health stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $17.82 per share, with a total value of $38,972.34. Following the acquisition, the insider now owns 12,722 shares in the company, valued at approximately $226,706.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GH. The Goldman Sachs Group dropped their price objective on Guardant Health from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Guggenheim reiterated a “neutral” rating on shares of Guardant Health in a research note on Friday, April 5th. Canaccord Genuity Group dropped their price objective on Guardant Health from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Craig Hallum initiated coverage on Guardant Health in a research note on Wednesday. They set a “buy” rating and a $28.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Guardant Health from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Guardant Health presently has an average rating of “Moderate Buy” and a consensus price target of $39.27.

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.