Brokerages expect Guardant Health Inc (NASDAQ:GH) to report $46.15 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Guardant Health’s earnings. The highest sales estimate is $47.80 million and the lowest is $44.90 million. Guardant Health posted sales of $21.69 million in the same quarter last year, which suggests a positive year over year growth rate of 112.8%. The firm is expected to announce its next earnings results on Monday, November 18th.
According to Zacks, analysts expect that Guardant Health will report full year sales of $185.95 million for the current year, with estimates ranging from $185.00 million to $187.70 million. For the next financial year, analysts anticipate that the firm will report sales of $256.21 million, with estimates ranging from $247.50 million to $267.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Guardant Health.
Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.21. The business had revenue of $53.98 million for the quarter, compared to analysts’ expectations of $35.97 million. Guardant Health had a negative net margin of 60.08% and a negative return on equity of 22.93%. The business’s revenue was up 178.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.75) earnings per share.
GH traded down $1.37 during midday trading on Friday, reaching $73.36. The company’s stock had a trading volume of 908,372 shares, compared to its average volume of 1,083,396. The stock’s 50-day moving average is $91.61 and its 200-day moving average is $82.51. The firm has a market capitalization of $6.95 billion and a price-to-earnings ratio of -26.20. Guardant Health has a 1 year low of $27.04 and a 1 year high of $112.21.
In related news, Director Stanley J. Meresman sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $76.36, for a total transaction of $763,600.00. Also, Chairman Amirali Talasaz sold 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.17, for a total transaction of $10,017,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,914,867 shares of company stock worth $478,546,806. Insiders own 13.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of GH. Morgan Stanley lifted its position in Guardant Health by 151.8% during the second quarter. Morgan Stanley now owns 4,814,366 shares of the company’s stock valued at $415,624,000 after purchasing an additional 2,902,471 shares during the period. Jennison Associates LLC lifted its position in Guardant Health by 301.7% during the second quarter. Jennison Associates LLC now owns 2,753,535 shares of the company’s stock valued at $237,713,000 after purchasing an additional 2,068,098 shares during the period. Vanguard Group Inc. lifted its position in Guardant Health by 151.1% during the second quarter. Vanguard Group Inc. now owns 2,893,820 shares of the company’s stock valued at $249,824,000 after purchasing an additional 1,741,472 shares during the period. Nuveen Asset Management LLC bought a new position in Guardant Health during the second quarter valued at approximately $106,503,000. Finally, Coatue Management LLC bought a new position in Guardant Health during the second quarter valued at approximately $103,251,000. Institutional investors own 81.40% of the company’s stock.
About Guardant Health
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.
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