Allspring Global Investments Holdings LLC Makes New $273,000 Investment in Guardant Health, Inc. (NASDAQ:GH)

Allspring Global Investments Holdings LLC purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GHFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,250 shares of the company’s stock, valued at approximately $273,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Guardant Health by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,950,230 shares of the company’s stock valued at $324,565,000 after purchasing an additional 146,902 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Guardant Health by 2.9% during the third quarter. The Manufacturers Life Insurance Company now owns 568,148 shares of the company’s stock valued at $16,840,000 after acquiring an additional 16,111 shares during the period. Norges Bank acquired a new stake in Guardant Health during the fourth quarter worth about $25,520,000. Wellington Management Group LLP increased its stake in Guardant Health by 24.1% during the fourth quarter. Wellington Management Group LLP now owns 834,084 shares of the company’s stock worth $22,562,000 after acquiring an additional 161,986 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Guardant Health by 1,649.4% in the 1st quarter. Principal Financial Group Inc. now owns 228,215 shares of the company’s stock worth $4,708,000 after purchasing an additional 215,170 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GH. Guggenheim raised shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Friday, June 28th. Stephens reissued an “overweight” rating and issued a $44.00 target price on shares of Guardant Health in a research note on Friday, May 24th. Craig Hallum began coverage on shares of Guardant Health in a research report on Wednesday, April 24th. They set a “buy” rating and a $28.00 price target for the company. Jefferies Financial Group started coverage on Guardant Health in a research report on Monday, June 3rd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Canaccord Genuity Group upped their target price on Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

Check Out Our Latest Stock Report on GH

Guardant Health Stock Performance

Shares of GH opened at $27.61 on Thursday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -7.04 and a beta of 1.13. The company has a quick ratio of 5.66, a current ratio of 5.95 and a debt-to-equity ratio of 16.70. The business’s 50 day moving average is $26.65 and its two-hundred day moving average is $23.00. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $41.06.

Guardant Health (NASDAQ:GHGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.94). Guardant Health had a negative net margin of 76.34% and a negative return on equity of 246.47%. The firm had revenue of $168.49 million for the quarter, compared to analysts’ expectations of $150.51 million. Analysts forecast that Guardant Health, Inc. will post -3.31 EPS for the current fiscal year.

About Guardant Health

(Free Report)

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.

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Institutional Ownership by Quarter for Guardant Health (NASDAQ:GH)

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