Guardant Health (NASDAQ:GH) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Guardant Health (NASDAQ:GH) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. TD Securities raised their target price on shares of Guardant Health from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. UBS Group lifted their price target on Guardant Health from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their price target on Guardant Health from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price target (up previously from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. Finally, Barclays boosted their target price on shares of Guardant Health from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Twenty-one research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $53.76.

Guardant Health Stock Performance

NASDAQ:GH opened at $47.81 on Monday. Guardant Health has a fifty-two week low of $20.14 and a fifty-two week high of $53.42. The stock has a market capitalization of $5.92 billion, a PE ratio of -14.10 and a beta of 1.44. The company has a fifty day moving average of $46.10 and a two-hundred day moving average of $44.06.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.08. The firm had revenue of $203.47 million during the quarter, compared to analysts’ expectations of $189.91 million. During the same period in the prior year, the company posted ($0.46) EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts forecast that Guardant Health will post -2.9 earnings per share for the current year.

Insider Activity

In other news, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.70, for a total value of $130,512.20. Following the completion of the sale, the director directly owned 18,180 shares of the company’s stock, valued at approximately $903,546. This represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meghan V. Joyce sold 3,337 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $47.22, for a total value of $157,573.14. Following the completion of the sale, the director directly owned 11,150 shares of the company’s stock, valued at $526,503. This represents a 23.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 342,158 shares of company stock valued at $17,075,394. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its stake in shares of Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock valued at $33,000 after buying an additional 213 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Guardant Health in the first quarter valued at $54,000. NewEdge Advisors LLC increased its stake in shares of Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after buying an additional 230 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Guardant Health in the fourth quarter valued at $61,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Guardant Health in the fourth quarter valued at $79,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.