Janney Montgomery Scott LLC Takes $232,000 Position in Guardant Health, Inc. (NASDAQ:GH)

Janney Montgomery Scott LLC purchased a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,446 shares of the company’s stock, valued at approximately $232,000.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Guardant Health in the 4th quarter worth approximately $43,000. Kimelman & Baird LLC purchased a new position in Guardant Health in the 4th quarter worth approximately $58,000. NewEdge Advisors LLC increased its stake in Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after purchasing an additional 230 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Guardant Health in the 4th quarter worth approximately $61,000. Finally, GF Fund Management CO. LTD. purchased a new position in Guardant Health in the 4th quarter worth approximately $79,000. Institutional investors own 92.60% of the company’s stock.

Analysts Set New Price Targets

GH has been the topic of several research analyst reports. Mizuho boosted their target price on Guardant Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Stifel Nicolaus boosted their target price on Guardant Health from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Piper Sandler reissued an “overweight” rating and set a $60.00 target price (up from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. TD Securities boosted their target price on Guardant Health from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group boosted their target price on Guardant Health from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Twenty-one analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $53.76.

Guardant Health Trading Up 0.1%

Guardant Health stock opened at $50.25 on Monday. The business’s fifty day simple moving average is $45.45 and its two-hundred day simple moving average is $43.20. Guardant Health, Inc. has a 12 month low of $20.14 and a 12 month high of $53.42. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of -14.82 and a beta of 1.44.

Guardant Health (NASDAQ:GH) last released its earnings results on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.08. The company had revenue of $203.47 million during the quarter, compared to the consensus estimate of $189.91 million. During the same period last year, the firm posted ($0.46) earnings per share. The company’s revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current year.

Insider Activity

In other news, Director Ian T. Clark sold 6,672 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $48.38, for a total transaction of $322,791.36. Following the transaction, the director directly owned 9,851 shares of the company’s stock, valued at $476,591.38. This represents a 40.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Myrtle S. Potter sold 2,626 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $49.70, for a total value of $130,512.20. Following the transaction, the director directly owned 18,180 shares in the company, valued at approximately $903,546. The trade was a 12.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 342,274 shares of company stock valued at $17,080,589. Corporate insiders own 6.10% of the company’s stock.

Guardant Health 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.