Bank of New York Mellon Corp Purchases 309,157 Shares of Guardant Health, Inc. (NASDAQ:GH)

Bank of New York Mellon Corp grew its holdings in Guardant Health, Inc. (NASDAQ:GH) by 31.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,280,221 shares of the company’s stock after purchasing an additional 309,157 shares during the quarter. Bank of New York Mellon Corp owned about 1.05% of Guardant Health worth $36,973,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Capital International Investors raised its stake in Guardant Health by 36.7% during the 4th quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock valued at $108,249,000 after purchasing an additional 1,074,452 shares during the last quarter. Norges Bank acquired a new position in shares of Guardant Health during the fourth quarter valued at about $25,520,000. Cadian Capital Management LP bought a new stake in shares of Guardant Health in the fourth quarter valued at about $19,206,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Guardant Health during the first quarter worth about $8,300,000. Finally, Vanguard Group Inc. grew its position in Guardant Health by 2.7% during the first quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock worth $235,925,000 after buying an additional 305,372 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Price Performance

Guardant Health stock opened at $25.58 on Tuesday. The business’s 50-day simple moving average is $29.91 and its 200 day simple moving average is $24.64. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -6.53 and a beta of 1.13. Guardant Health, Inc. has a 12-month low of $15.81 and a 12-month high of $41.06.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). The business had revenue of $177.24 million during the quarter, compared to the consensus estimate of $162.59 million. Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. Guardant Health’s revenue was up 29.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.67) earnings per share. As a group, research analysts anticipate that Guardant Health, Inc. will post -3.29 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BTIG Research boosted their price target on shares of Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. TD Cowen increased their price target on shares of Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Piper Sandler lifted their price objective on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. UBS Group upped their price objective on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Bank of America raised their target price on Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and a consensus target price of $39.31.

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.