BTIG Research Raises Guardant Health (NASDAQ:GH) Price Target to $70.00

Guardant Health (NASDAQ:GH) had its price target increased by equities researchers at BTIG Research from $65.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 16.41% from the company’s current price.

A number of other equities analysts have also issued reports on GH. Scotiabank boosted their target price on shares of Guardant Health from $57.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. Raymond James Financial upped their target price on shares of Guardant Health from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Evercore ISI raised shares of Guardant Health to a “strong-buy” rating in a report on Monday, July 14th. Finally, Mizuho upped their price target on shares of Guardant Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating and seventeen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $58.24.

Guardant Health Trading Down 2.0%

Shares of Guardant Health stock opened at $60.13 on Thursday. The firm has a fifty day simple moving average of $53.12 and a 200-day simple moving average of $47.20. Guardant Health has a 1-year low of $20.14 and a 1-year high of $68.00. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of -17.95 and a beta of 1.46.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share 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 analyst estimates of $211.19 million. During the same quarter in the previous year, the firm posted ($0.84) earnings per share. Guardant Health’s quarterly revenue was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. As a group, research analysts predict that Guardant Health will post -2.9 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Meghan V. Joyce sold 3,337 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Musa Tariq sold 3,213 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total value of $158,947.11. Following the completion of the sale, the director directly owned 7,190 shares of the company’s stock, valued at approximately $355,689.30. This trade represents a 30.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 194,111 shares of company stock worth $9,780,576 over the last quarter. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC acquired a new stake in shares of Guardant Health in the 1st quarter valued at approximately $232,000. Teacher Retirement System of Texas acquired a new stake in shares of Guardant Health during the first quarter worth $866,000. Fifth Third Bancorp bought a new position in shares of Guardant Health in the first quarter worth $279,000. Oppenheimer & Co. Inc. bought a new position in shares of Guardant Health in the first quarter worth $442,000. Finally, 111 Capital bought a new position in shares of Guardant Health in the fourth quarter worth $254,000. 92.60% of the stock is owned by institutional investors.

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.