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Comerica Bank decreased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH – Free Report) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,094 shares of the company’s stock after selling 13,131 shares during the period. Comerica Bank’s holdings in Guardant Health were worth $1,665,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in GH. SVB Wealth LLC acquired a new position in Guardant Health during the 1st quarter worth approximately $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Guardant Health during the 4th quarter worth approximately $61,000. GF Fund Management CO. LTD. acquired a new position in Guardant Health during the 4th quarter worth approximately $79,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Guardant Health during the 1st quarter worth approximately $97,000. Finally, CWM LLC raised its stake in Guardant Health by 180.3% during the 1st quarter. CWM LLC now owns 2,296 shares of the company’s stock worth $98,000 after buying an additional 1,477 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.
Guardant Health Trading Down 2.2%
Shares of GH opened at $65.06 on Thursday. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of -19.42 and a beta of 1.46. The stock has a 50 day moving average of $52.71 and a 200 day moving average of $47.02. Guardant Health, Inc. has a 12 month low of $20.14 and a 12 month high of $68.00.
Guardant Health (NASDAQ:GH – Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. The business had revenue of $232.09 million for the quarter, compared to analysts’ expectations of $211.19 million. The business’s revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current year.
Insider Activity at Guardant Health
In related news, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.70, for a total transaction of $130,512.20. Following the completion of the sale, the director directly owned 18,180 shares of the company’s stock, valued at approximately $903,546. This trade represents a 12.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Musa Tariq sold 3,213 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total value of $158,947.11. Following the sale, the director directly owned 7,190 shares of the company’s stock, valued at $355,689.30. The trade was a 30.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 233,862 shares of company stock valued at $11,770,909 in the last ninety days. Insiders own 6.10% of the company’s stock.
Analyst Upgrades and Downgrades
GH has been the topic of a number of research reports. Evercore ISI raised Guardant Health to a “strong-buy” rating in a research note on Monday, July 14th. Raymond James Financial upped their price target on Guardant Health from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Mizuho increased their price objective on Guardant Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Finally, Scotiabank increased their price objective on Guardant Health from $57.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $57.50.
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.
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