The Goldman Sachs Group Cuts Guardant Health (NASDAQ:GH) Price Target to $28.00

Guardant Health (NASDAQ:GH) had its target price trimmed by The Goldman Sachs Group from $32.00 to $28.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Guggenheim reissued a neutral rating on shares of Guardant Health in a report on Friday, April 5th. Canaccord Genuity Group lowered their price target on shares of Guardant Health from $50.00 to $45.00 and set a buy rating on the stock in a research report on Friday, February 23rd. JPMorgan Chase & Co. cut their price objective on shares of Guardant Health from $60.00 to $45.00 and set an overweight rating for the company in a report on Friday, February 23rd. Finally, Piper Sandler decreased their target price on shares of Guardant Health from $40.00 to $30.00 and set an overweight rating on the stock in a research report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $40.40.

Guardant Health Stock Performance

NASDAQ GH opened at $16.39 on Monday. The stock has a market cap of $1.99 billion, a PE ratio of -3.83 and a beta of 0.87. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. The firm has a 50-day moving average of $19.46 and a 200-day moving average of $23.40. Guardant Health has a 52-week low of $15.89 and a 52-week high of $41.06.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.65). Guardant Health had a negative return on equity of 301.94% and a negative net margin of 85.02%. The company had revenue of $155.05 million for the quarter, compared to analyst estimates of $151.71 million. On average, sell-side analysts anticipate that Guardant Health will post -3.49 EPS for the current year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, insider Kumud Kalia bought 2,187 shares of Guardant Health stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $17.82 per share, with a total value of $38,972.34. Following the acquisition, the insider now owns 12,722 shares in the company, valued at approximately $226,706.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds have recently made changes to their positions in GH. Vanguard Group Inc. boosted its holdings in shares of Guardant Health by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,950,230 shares of the company’s stock valued at $324,565,000 after acquiring an additional 146,902 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Guardant Health by 2.9% during the third quarter. The Manufacturers Life Insurance Company now owns 568,148 shares of the company’s stock valued at $16,840,000 after purchasing an additional 16,111 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Guardant Health during the third quarter worth about $1,689,000. Rhumbline Advisers increased its stake in shares of Guardant Health by 5.8% in the third quarter. Rhumbline Advisers now owns 159,660 shares of the company’s stock valued at $4,732,000 after buying an additional 8,688 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Guardant Health by 31.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,211,499 shares of the company’s stock valued at $35,909,000 after buying an additional 292,888 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Company Profile

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.