Connective Portfolio Management LLC Acquires Shares of 7,000 Guardant Health, Inc. $GH

Connective Portfolio Management LLC bought a new stake in Guardant Health, Inc. (NASDAQ:GH) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,000 shares of the company’s stock, valued at approximately $715,000. Guardant Health accounts for about 1.3% of Connective Portfolio Management LLC’s holdings, making the stock its 29th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chesapeake Asset Management LLC bought a new position in Guardant Health in the fourth quarter valued at about $28,000. Sound Income Strategies LLC acquired a new position in Guardant Health during the 3rd quarter valued at about $38,000. Optiver Holding B.V. boosted its stake in shares of Guardant Health by 153.5% in the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock valued at $48,000 after purchasing an additional 465 shares during the last quarter. Allworth Financial LP grew its position in shares of Guardant Health by 19.5% during the 3rd quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after buying an additional 138 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Guardant Health during the third quarter worth approximately $62,000. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $86.58 on Thursday. Guardant Health, Inc. has a 52-week low of $36.36 and a 52-week high of $120.74. The stock has a market cap of $11.36 billion, a P/E ratio of -26.16 and a beta of 1.67. The firm has a 50 day moving average price of $100.45 and a 200 day moving average price of $91.07.

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

Wall Street Analysts Forecast Growth

GH has been the topic of several analyst reports. Mizuho set a $135.00 price objective on shares of Guardant Health in a report on Friday, January 9th. Citigroup upped their target price on shares of Guardant Health from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Barclays reissued an “overweight” rating and issued a $130.00 price target on shares of Guardant Health in a research note on Friday, February 20th. Wells Fargo & Company raised their price target on Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Guardant Health from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Twenty investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and an average target price of $125.95.

Insiders Place Their Bets

In other Guardant Health news, insider Terilyn J. Monroe sold 8,571 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $114.09, for a total value of $977,865.39. Following the completion of the sale, the insider directly owned 20,990 shares in the company, valued at $2,394,749.10. This represents a 28.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Musa Tariq sold 348 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $88.09, for a total value of $30,655.32. Following the sale, the director directly owned 8,394 shares in the company, valued at approximately $739,427.46. This represents a 3.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 23,250 shares of company stock worth $2,512,917. 6.10% of the stock is owned by corporate insiders.

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.