Guardant Health, Inc. (NASDAQ:GH) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Guardant Health, Inc. (NASDAQ:GH) have been assigned an average rating of “Buy” from the twenty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $49.00.

A number of equities research analysts have issued reports on the stock. Guggenheim reissued a “buy” rating and set a $56.00 target price on shares of Guardant Health in a research note on Monday, February 24th. Stifel Nicolaus boosted their target price on Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Raymond James reaffirmed an “outperform” rating and set a $59.00 price target (up from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Mizuho started coverage on Guardant Health in a research note on Thursday, April 10th. They issued an “outperform” rating and a $55.00 price target for the company. Finally, Piper Sandler raised their price objective on shares of Guardant Health from $34.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th.

Guardant Health Price Performance

Guardant Health stock opened at $44.97 on Friday. The company has a market cap of $5.55 billion, a P/E ratio of -12.63 and a beta of 1.45. Guardant Health has a fifty-two week low of $16.77 and a fifty-two week high of $50.89. The firm’s 50 day simple moving average is $43.55 and its 200-day simple moving average is $36.46.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The firm had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. On average, analysts expect that Guardant Health will post -2.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GH. NewEdge Advisors LLC grew its position in Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Guardant Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock worth $377,000 after purchasing an additional 391 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Guardant Health by 1.1% during the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock worth $1,089,000 after purchasing an additional 403 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Guardant Health by 43.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock valued at $82,000 after buying an additional 817 shares in the last quarter. Finally, Fiduciary Alliance LLC raised its holdings in shares of Guardant Health by 7.6% in the fourth quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock valued at $363,000 after buying an additional 836 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.