Algert Global LLC Raises Stock Holdings in Guardant Health, Inc. $GH

Algert Global LLC raised its holdings in Guardant Health, Inc. (NASDAQ:GH) by 169.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,114 shares of the company’s stock after purchasing an additional 75,474 shares during the period. Algert Global LLC owned about 0.10% of Guardant Health worth $7,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GH. Sound Income Strategies LLC purchased a new position in Guardant Health during the third quarter valued at $38,000. Allworth Financial LP lifted its stake in Guardant Health by 358.4% in the 2nd quarter. Allworth Financial LP now owns 706 shares of the company’s stock valued at $37,000 after buying an additional 552 shares in the last quarter. Optiver Holding B.V. boosted its holdings in Guardant Health by 153.5% in the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock worth $48,000 after buying an additional 465 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Guardant Health by 162.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,096 shares of the company’s stock worth $68,000 after buying an additional 678 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in Guardant Health during the 3rd quarter worth approximately $78,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Guardant Health news, Director Medina Manuel Hidalgo sold 1,300 shares of Guardant Health stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $91.54, for a total transaction of $119,002.00. Following the transaction, the director directly owned 1,193 shares of the company’s stock, valued at $109,207.22. The trade was a 52.15% 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, insider Terilyn J. Monroe sold 8,571 shares of Guardant Health stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $114.09, for a total transaction of $977,865.39. Following the sale, the insider directly owned 20,990 shares in the company, valued at approximately $2,394,749.10. The trade was a 28.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 20,018 shares of company stock valued at $2,232,911. 6.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GH has been the subject of a number of research analyst reports. Evercore set a $110.00 target price on Guardant Health in a report on Friday, February 20th. BTIG Research lifted their price target on Guardant Health from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. TD Cowen boosted their price target on Guardant Health from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Piper Sandler increased their price objective on Guardant Health from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company raised their price objective on Guardant Health from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Twenty-one equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.57.

Guardant Health Stock Performance

Shares of Guardant Health stock opened at $87.18 on Tuesday. Guardant Health, Inc. has a one year low of $36.36 and a one year high of $120.74. The company has a market cap of $11.44 billion, a price-to-earnings ratio of -26.34 and a beta of 1.67. The business’s 50 day moving average price is $103.62 and its 200 day moving average price is $90.18.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The business had revenue of $281.27 million during the quarter, compared to the consensus estimate of $269.74 million. During the same period in the prior year, the firm posted ($0.62) EPS. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Guardant Health Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.