Guardant Health (NASDAQ:GH) Price Target Cut to $30.00

Guardant Health (NASDAQ:GH) had its target price decreased by Canaccord Genuity Group from $45.00 to $30.00 in a research note published on Monday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

GH has been the subject of a number of other reports. Craig Hallum started coverage on shares of Guardant Health in a report on Wednesday, April 24th. They issued a buy rating and a $28.00 target price for the company. JPMorgan Chase & Co. cut their price target on Guardant Health from $60.00 to $45.00 and set an overweight rating for the company in a report on Friday, February 23rd. Guggenheim reissued a neutral rating on shares of Guardant Health in a research note on Friday, April 5th. The Goldman Sachs Group lowered their price objective on shares of Guardant Health from $32.00 to $28.00 and set a buy rating for the company in a research note on Monday, April 15th. Finally, Piper Sandler decreased their price target on shares of Guardant Health from $40.00 to $30.00 and set an overweight rating for the company in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $37.91.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $18.19 on Monday. The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. The company has a market cap of $2.21 billion, a P/E ratio of -4.25 and a beta of 0.87. Guardant Health has a 52 week low of $15.81 and a 52 week high of $41.06. The company has a 50-day moving average price of $18.74 and a 200 day moving average price of $22.80.

Guardant Health (NASDAQ:GH) last announced 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. Research analysts predict that Guardant Health will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kumud Kalia purchased 2,187 shares of Guardant Health stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average price of $17.82 per share, for a total transaction of $38,972.34. Following the transaction, the insider now owns 12,722 shares in the company, valued at $226,706.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GH. CWM LLC lifted its position in Guardant Health by 137.1% in the 3rd quarter. CWM LLC now owns 984 shares of the company’s stock worth $29,000 after buying an additional 569 shares in the last quarter. AE Wealth Management LLC acquired a new position in Guardant Health in the 3rd quarter valued at $572,000. SG Americas Securities LLC acquired a new position in Guardant Health in the 3rd quarter valued at $818,000. Handelsbanken Fonder AB grew its stake in Guardant Health by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 122,441 shares of the company’s stock valued at $3,629,000 after buying an additional 8,341 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Guardant Health by 81.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 25,684 shares of the company’s stock valued at $761,000 after buying an additional 11,498 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.