Zacks Investment Research Downgrades Guardant Health (NASDAQ:GH) to Hold

Guardant Health (NASDAQ:GH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Guardant Health Inc. is a precision oncology company. It focuses on conquer cancer through use of proprietary blood tests, vast data sets and advanced analytics. The company’s Guardant Health Oncology Platform is designed for clinical development, regulatory and reimbursement to drive commercial adoption, improve patient clinical outcomes and lower healthcare costs. It launched multiple liquid biopsy-based tests, Guardant360 and GuardantOMNI, for advanced stage cancer patients, which fuel its development programs for recurrence and early detection, LUNAR-1 and LUNAR-2. Guardant Health Inc. is based in REDWOOD CITY, United States. “

A number of other brokerages have also commented on GH. BTIG Research began coverage on shares of Guardant Health in a research note on Thursday, June 11th. They issued a “buy” rating and a $100.00 price target for the company. Citigroup lifted their price target on shares of Guardant Health from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. BidaskClub lowered shares of Guardant Health from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. Canaccord Genuity restated a “buy” rating and set a $125.00 target price on shares of Guardant Health in a research report on Friday, May 8th. Finally, SVB Leerink restated a “buy” rating and set a $130.00 target price (up from $125.00) on shares of Guardant Health in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $110.17.

Guardant Health stock traded down $3.97 during trading hours on Wednesday, hitting $85.45. The stock had a trading volume of 5,420 shares, compared to its average volume of 1,081,640. The stock has a market capitalization of $8.18 billion, a P/E ratio of -68.31 and a beta of 0.58. Guardant Health has a 12-month low of $55.90 and a 12-month high of $105.84. The stock’s 50-day moving average price is $83.15 and its 200-day moving average price is $79.89.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, August 6th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.17). The firm had revenue of $66.30 million during the quarter, compared to analysts’ expectations of $59.18 million. Guardant Health had a negative return on equity of 14.66% and a negative net margin of 45.53%. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period last year, the firm posted ($0.13) earnings per share. As a group, equities analysts forecast that Guardant Health will post -1.48 earnings per share for the current fiscal year.

In related news, Director Stanley J. Meresman sold 5,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $87.00, for a total transaction of $435,000.00. Following the sale, the director now owns 9,059 shares of the company’s stock, valued at $788,133. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stanley J. Meresman sold 6,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $80.59, for a total transaction of $483,540.00. Following the sale, the director now directly owns 7,302 shares in the company, valued at approximately $588,468.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,032,488 shares of company stock worth $751,382,992. 9.90% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. CSat Investment Advisory L.P. bought a new position in Guardant Health during the second quarter valued at $25,000. FinTrust Capital Advisors LLC increased its position in Guardant Health by 1,930.0% during the first quarter. FinTrust Capital Advisors LLC now owns 406 shares of the company’s stock valued at $28,000 after acquiring an additional 386 shares during the last quarter. First Horizon Advisors Inc. increased its position in Guardant Health by 186.0% during the first quarter. First Horizon Advisors Inc. now owns 429 shares of the company’s stock valued at $28,000 after acquiring an additional 279 shares during the last quarter. Allred Capital Management LLC increased its position in Guardant Health by 2,247.4% during the first quarter. Allred Capital Management LLC now owns 446 shares of the company’s stock valued at $31,000 after acquiring an additional 427 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new position in Guardant Health during the first quarter valued at $39,000. Institutional investors and hedge funds own 82.39% 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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