Guardant Health Inc (NASDAQ:GH) shares were down 5.2% on Wednesday . The stock traded as low as $74.39 and last traded at $76.50, approximately 2,506,928 shares were traded during trading. An increase of 145% from the average daily volume of 1,025,245 shares. The stock had previously closed at $80.71.

A number of research analysts have recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $125.00 price target (up from $96.00) on shares of Guardant Health in a report on Wednesday, August 7th. Zacks Investment Research downgraded Guardant Health from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. boosted their target price on Guardant Health from $90.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Cowen set a $110.00 target price on Guardant Health and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $111.80.

The company has a market capitalization of $7.43 billion and a P/E ratio of -27.32. The stock has a fifty day moving average of $93.52 and a 200 day moving average of $81.97.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.21. The company had revenue of $53.98 million during the quarter, compared to the consensus estimate of $35.97 million. Guardant Health had a negative return on equity of 22.93% and a negative net margin of 60.08%. The firm’s revenue was up 178.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.75) EPS. On average, equities research analysts forecast that Guardant Health Inc will post -1.27 EPS for the current fiscal year.

In related news, CEO Helmy Eltoukhy sold 426,301 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $99.58, for a total transaction of $42,451,053.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ian T. Clark sold 9,683 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $89.75, for a total transaction of $869,049.25. The disclosure for this sale can be found here. Insiders sold 1,004,867 shares of company stock worth $100,483,206 over the last 90 days. Company insiders own 13.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of Guardant Health by 151.8% in 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 in the last quarter. 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 last quarter. Vanguard Group Inc. grew its stake in shares of Guardant Health by 151.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,893,820 shares of the company’s stock worth $249,824,000 after buying an additional 1,741,472 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Guardant Health in the 2nd quarter worth $106,503,000. Finally, Coatue Management LLC purchased a new position in shares of Guardant Health in the 2nd quarter worth $103,251,000. 81.40% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Company Profile (NASDAQ:GH)

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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