PNC Financial Services Group Inc. Buys 537 Shares of Guardant Health, Inc. $GH

PNC Financial Services Group Inc. raised its stake in Guardant Health, Inc. (NASDAQ:GH) by 25.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,638 shares of the company’s stock after purchasing an additional 537 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Guardant Health were worth $112,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in Guardant Health in the first quarter valued at approximately $232,000. Stifel Financial Corp lifted its position in Guardant Health by 25.1% in the fourth quarter. Stifel Financial Corp now owns 49,927 shares of the company’s stock valued at $1,525,000 after purchasing an additional 10,006 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Guardant Health in the first quarter valued at approximately $866,000. Fifth Third Bancorp bought a new stake in Guardant Health in the first quarter valued at approximately $279,000. Finally, Raymond James Financial Inc. bought a new stake in Guardant Health in the fourth quarter valued at approximately $2,211,000. Institutional investors own 92.60% of the company’s stock.

Insiders Place Their Bets

In other Guardant Health news, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction 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 transaction, the director owned 18,180 shares in the company, valued at approximately $903,546. This represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Musa Tariq sold 3,213 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $49.47, for a total value of $158,947.11. Following the completion of the transaction, the director owned 7,190 shares of the company’s stock, valued at approximately $355,689.30. This trade represents a 30.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,400 shares of company stock valued at $11,844,110 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Guardant Health Trading Down 1.5%

GH opened at $58.57 on Wednesday. The stock has a fifty day simple moving average of $49.59 and a two-hundred day simple moving average of $45.69. The company has a market cap of $7.30 billion, a price-to-earnings ratio of -17.48 and a beta of 1.43. Guardant Health, Inc. has a 12-month low of $20.14 and a 12-month high of $60.68.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.08. The firm had revenue of $232.09 million during the quarter, compared to the consensus estimate of $211.19 million. Guardant Health’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. On average, analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on GH shares. Canaccord Genuity Group boosted their price objective on Guardant Health from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Mizuho boosted their price objective on Guardant Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. TD Securities upped their target price on Guardant Health from $56.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Raymond James Financial upped their target price on Guardant Health from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, UBS Group upped their target price on Guardant Health from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, Guardant Health currently has an average rating of “Buy” and a consensus target price of $57.50.

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.