Allspring Global Investments Holdings LLC Reduces Stock Holdings in Guardant Health, Inc. $GH

Allspring Global Investments Holdings LLC lowered its holdings in Guardant Health, Inc. (NASDAQ:GH) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 618,599 shares of the company’s stock after selling 12,256 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.49% of Guardant Health worth $62,936,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GH. Chesapeake Asset Management LLC acquired a new stake in Guardant Health during the 4th quarter worth about $28,000. Sound Income Strategies LLC acquired a new position in shares of Guardant Health in 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 third 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. Allworth Financial LP boosted its stake in shares of Guardant Health by 19.5% in the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after buying an additional 138 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Guardant Health during the third quarter worth about $62,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Transactions at Guardant Health

In other news, Director Medina Manuel Hidalgo sold 1,300 shares of Guardant Health stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $91.54, for a total value of $119,002.00. Following the sale, 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 legal filing with the SEC, which is available at this link. Also, Director Musa Tariq sold 348 shares of the business’s stock in a transaction that occurred on 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 owned 8,394 shares of the company’s stock, valued at $739,427.46. The trade was a 3.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,250 shares of company stock valued at $2,512,917 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Guardant Health Stock Performance

NASDAQ:GH opened at $91.15 on Thursday. The company has a fifty day moving average of $97.96 and a two-hundred day moving average of $92.15. The stock has a market capitalization of $11.96 billion, a PE ratio of -27.54 and a beta of 1.64. Guardant Health, Inc. has a fifty-two week low of $36.36 and a fifty-two week high of $120.74.

Guardant Health (NASDAQ:GH) last announced 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 firm had revenue of $281.27 million for the quarter, compared to analyst estimates of $269.74 million. During the same quarter last year, the business posted ($0.62) EPS. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. Research analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Analysts Set New Price Targets

GH has been the subject of several recent research reports. Stifel Nicolaus lifted their target price on shares of Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 20th. TD Cowen increased their price target on shares of Guardant Health from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Leerink Partners raised their price target on shares of Guardant Health from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. UBS Group reiterated a “buy” rating and issued a $175.00 price objective on shares of Guardant Health in a research report on Friday, January 30th. Finally, Wells Fargo & Company increased their target price on shares of Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.95.

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.