Edgestream Partners L.P. Buys 30,094 Shares of Guardant Health, Inc. $GH

Edgestream Partners L.P. grew its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 147.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,519 shares of the company’s stock after purchasing an additional 30,094 shares during the period. Edgestream Partners L.P.’s holdings in Guardant Health were worth $2,629,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Signaturefd LLC grew its holdings in Guardant Health by 50.5% during the 2nd 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. IFP Advisors Inc grew its holdings in shares of Guardant Health by 120.1% in the second quarter. IFP Advisors Inc now owns 612 shares of the company’s stock valued at $33,000 after purchasing an additional 334 shares in the last quarter. Allworth Financial LP increased its position in Guardant Health by 358.4% in the second quarter. Allworth Financial LP now owns 706 shares of the company’s stock worth $37,000 after purchasing an additional 552 shares during the last quarter. SVB Wealth LLC purchased a new stake in Guardant Health during the first quarter valued at $54,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Guardant Health in the 2nd quarter worth $62,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Guardant Health

In other news, insider John G. Saia sold 8,996 shares of Guardant Health stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $96.25, for a total transaction of $865,865.00. Following the completion of the sale, the insider owned 43,172 shares of the company’s stock, valued at approximately $4,155,305. The trade was a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Helmy Eltoukhy sold 300,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total value of $17,835,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,123,499 shares in the company, valued at approximately $126,242,015.55. This trade represents a 12.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 368,228 shares of company stock valued at $24,835,525 in the last quarter. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Cowen increased their price target on shares of Guardant Health from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Evercore ISI upped their price objective on Guardant Health from $68.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. 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 note on Thursday, September 25th. Canaccord Genuity Group set a $100.00 target price on Guardant Health in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a report on Wednesday, October 8th. Twenty-three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.86.

Guardant Health Stock Performance

Shares of GH stock opened at $108.52 on Friday. The stock has a 50 day moving average price of $83.83 and a 200 day moving average price of $62.66. Guardant Health, Inc. has a 52-week low of $29.91 and a 52-week high of $112.43. The firm has a market capitalization of $13.68 billion, a P/E ratio of -33.81 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last released its earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.09. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.88) earnings per share. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

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.