Vision Fund (Aiv M1) Softbank Buys 2,033,990 Shares of Guardant Health Inc (GH) Stock

Guardant Health Inc (NASDAQ:GH) major shareholder Vision Fund (Aiv M1) Softbank purchased 2,033,990 shares of Guardant Health stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $9.83 per share, with a total value of $19,994,121.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of GH traded up $3.06 on Thursday, reaching $97.51. The company’s stock had a trading volume of 2,098,060 shares, compared to its average volume of 558,957. The company has a market cap of $6.35 billion and a price-to-earnings ratio of -34.83. Guardant Health Inc has a 12-month low of $27.04 and a 12-month high of $100.74.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. The firm had revenue of $32.87 million for the quarter, compared to analysts’ expectations of $24.57 million. As a group, research analysts predict that Guardant Health Inc will post -1.26 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of GH. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Guardant Health in the fourth quarter worth $26,000. Legal & General Group Plc purchased a new position in shares of Guardant Health in the fourth quarter worth $85,000. Citigroup Inc. purchased a new position in shares of Guardant Health in the fourth quarter worth $94,000. Victory Capital Management Inc. purchased a new position in shares of Guardant Health in the fourth quarter worth $124,000. Finally, Pendal Group Ltd purchased a new position in shares of Guardant Health in the fourth quarter worth $213,000. 69.54% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on GH shares. Bank of America reissued a “neutral” rating and issued a $60.00 price objective (up previously from $42.00) on shares of Guardant Health in a report on Thursday, February 28th. William Blair reissued an “outperform” rating on shares of Guardant Health in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Guardant Health from $42.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $72.50.

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Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides non-invasive cancer diagnostics. It offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes from circulating tumor DNA (ctDNA); and GuardantOMNI, a broader panel measuring various genes from ctDNA.

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