Mizuho Issues Positive Forecast for Guardant Health (NASDAQ:GH) Stock Price

Guardant Health (NASDAQ:GH) had its target price lifted by Mizuho from $65.00 to $70.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company initiated coverage on shares of Guardant Health in a research report on Monday. They set an “overweight” rating and a $72.00 price objective for the company. Scotiabank boosted their price target on shares of Guardant Health from $57.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. Stifel Nicolaus set a $73.00 price objective on shares of Guardant Health in a research report on Thursday. Guggenheim lifted their price objective on Guardant Health from $56.00 to $67.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wolfe Research raised Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and twenty-two have issued a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $64.75.

Guardant Health Trading Up 4.4%

Guardant Health stock opened at $60.18 on Thursday. The stock has a 50 day moving average of $55.34 and a two-hundred day moving average of $48.72. Guardant Health has a twelve month low of $20.14 and a twelve month high of $68.00. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of -17.96 and a beta of 1.46.

Guardant Health (NASDAQ:GH) last released its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. The company had revenue of $232.09 million during the quarter, compared to analyst estimates of $211.19 million. During the same period in the previous year, the firm posted ($0.84) EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. Equities analysts predict that Guardant Health will post -2.9 earnings per share for the current year.

Insiders Place Their Bets

In other Guardant Health news, CEO Amirali Talasaz sold 100,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total value of $5,088,000.00. Following the sale, the chief executive officer owned 1,971,830 shares of the company’s stock, valued at $100,326,710.40. This represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $54.16, for a total transaction of $117,256.40. Following the completion of the sale, the director owned 851 shares in the company, valued at $46,090.16. This represents a 71.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 402,691 shares of company stock worth $23,069,965. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

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

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.