Guardant Health (NASDAQ:GH) Given New $70.00 Price Target at JPMorgan Chase & Co.

Guardant Health (NASDAQ:GH) had its price target upped by JPMorgan Chase & Co. from $60.00 to $70.00 in a report issued on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research firms have also weighed in on GH. Wolfe Research raised Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Thursday. Scotiabank raised their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Wells Fargo & Company began coverage on Guardant Health in a report on Monday. They issued an “overweight” rating and a $72.00 target price on the stock. Guggenheim boosted their price target on shares of Guardant Health from $56.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Raymond James Financial upped their price objective on Guardant Health from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating and twenty-two have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $64.75.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $60.18 on Thursday. Guardant Health has a fifty-two week low of $20.14 and a fifty-two week high of $68.00. The firm has a market capitalization of $7.51 billion, a P/E ratio of -17.96 and a beta of 1.46. The company’s 50 day moving average price is $55.34 and its two-hundred day moving average price is $48.72.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company earned ($0.84) EPS. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. On average, analysts expect that Guardant Health will post -2.9 earnings per share for the current year.

Insiders Place Their Bets

In other Guardant Health news, CEO Helmy Eltoukhy sold 300,000 shares of Guardant Health stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total transaction of $17,835,000.00. Following the sale, the chief executive officer directly owned 2,123,499 shares of the company’s stock, valued at approximately $126,242,015.55. The trade was a 12.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $54.16, for a total value of $117,256.40. Following the completion of the sale, the director directly owned 851 shares in the company, valued at approximately $46,090.16. The trade was a 71.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 402,691 shares of company stock worth $23,069,965. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Guardant Health

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 111 Capital bought a new stake in shares of Guardant Health during the fourth quarter valued at approximately $254,000. GAMMA Investing LLC lifted its stake in shares of Guardant Health by 11,765.1% in the 1st quarter. GAMMA Investing LLC now owns 17,679 shares of the company’s stock worth $7,530,000 after purchasing an additional 17,530 shares during the period. Rhumbline Advisers raised its position in Guardant Health by 4.9% in the first quarter. Rhumbline Advisers now owns 175,432 shares of the company’s stock worth $7,473,000 after acquiring an additional 8,202 shares during the period. MRA Advisory Group purchased a new position in Guardant Health during the first quarter valued at $651,000. Finally, Handelsbanken Fonder AB lifted its position in shares of Guardant Health by 13.1% during the 1st quarter. Handelsbanken Fonder AB now owns 32,741 shares of the company’s stock valued at $1,395,000 after buying an additional 3,800 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.