Guardant Health (NASDAQ:GH) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Guardant Health (NASDAQ:GH) from a hold rating to a sell rating in a research report report published on Wednesday morning, 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 analysts have also weighed in on the stock. Canaccord Genuity decreased their target price on shares of Guardant Health from $195.00 to $180.00 and set a buy rating on the stock in a report on Monday, August 9th. TheStreet raised shares of Guardant Health from a d rating to a c- rating in a report on Monday, October 4th. Raymond James started coverage on shares of Guardant Health in a report on Tuesday, June 15th. They issued a market perform rating on the stock. Finally, Wells Fargo & Company increased their price target on shares of Guardant Health from $145.00 to $160.00 and gave the stock an overweight rating in a report on Monday, June 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Guardant Health has a consensus rating of Buy and an average price target of $164.00.

GH opened at $102.01 on Wednesday. The company’s 50-day moving average price is $117.43 and its two-hundred day moving average price is $125.90. Guardant Health has a twelve month low of $96.66 and a twelve month high of $181.07. The company has a quick ratio of 19.30, a current ratio of 19.57 and a debt-to-equity ratio of 1.44. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of -27.06 and a beta of 0.51.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, August 5th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.09). Guardant Health had a negative net margin of 116.99% and a negative return on equity of 37.35%. The business had revenue of $92.10 million during the quarter, compared to the consensus estimate of $84.63 million. As a group, sell-side analysts anticipate that Guardant Health will post -3.98 earnings per share for the current year.

In other news, Director Stanley J. Meresman sold 4,934 shares of the firm’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $129.78, for a total transaction of $640,334.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 14,802 shares of company stock worth $1,715,453. Insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Gofen & Glossberg LLC IL purchased a new position in Guardant Health during the third quarter valued at approximately $386,000. Koshinski Asset Management Inc. purchased a new position in Guardant Health during the third quarter valued at approximately $156,000. Arden Trust Co raised its position in shares of Guardant Health by 1.5% during the third quarter. Arden Trust Co now owns 8,447 shares of the company’s stock valued at $1,056,000 after buying an additional 121 shares during the last quarter. Berman Capital Advisors LLC raised its position in shares of Guardant Health by 996.8% during the third quarter. Berman Capital Advisors LLC now owns 340 shares of the company’s stock valued at $42,000 after buying an additional 309 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. raised its position in shares of Guardant Health by 1.2% during the third quarter. Ipswich Investment Management Co. Inc. now owns 15,828 shares of the company’s stock valued at $1,979,000 after buying an additional 180 shares during the last quarter. 87.58% of the stock is currently owned by institutional investors.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company, which engages in treatment of cancer through use of proprietary blood-based tests, vast data sets, and advanced analytics. Its solutions include treatment selection, recurrence detection, and early detection. The company was founded by Helmy Eltoukhy, AmirAli H.

Further Reading: What are the risks of holding treasury bonds?

Get a free copy of the Zacks research report on Guardant Health (GH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Guardant Health (NASDAQ:GH)

Receive News & Ratings for Guardant Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Guardant Health and related companies with MarketBeat.com's FREE daily email newsletter.