Guardant Health (NASDAQ:GH) Shares Gap Down on Disappointing Earnings

Guardant Health, Inc. (NASDAQ:GHGet Rating) shares gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $51.09, but opened at $47.55. Guardant Health shares last traded at $49.17, with a volume of 17,008 shares traded.

The company reported ($2.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.25) by ($1.00). The company had revenue of $109.14 million during the quarter, compared to analyst estimates of $105.14 million. Guardant Health had a negative net margin of 107.20% and a negative return on equity of 62.68%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.96) EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. OTR Global cut Guardant Health to a “positive” rating in a report on Monday, August 1st. Piper Sandler assumed coverage on Guardant Health in a report on Thursday, June 2nd. They issued an “overweight” rating and a $65.00 price objective for the company. Finally, Citigroup decreased their price objective on Guardant Health from $120.00 to $100.00 in a report on Friday, May 6th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Guardant Health currently has a consensus rating of “Buy” and an average price target of $131.73.

Institutional Investors Weigh In On Guardant Health

Several large investors have recently bought and sold shares of GH. Capital Research Global Investors increased its stake in Guardant Health by 50.0% during the 4th quarter. Capital Research Global Investors now owns 7,927,702 shares of the company’s stock worth $792,929,000 after buying an additional 2,640,910 shares in the last quarter. Capital International Investors increased its stake in Guardant Health by 71.0% during the 1st quarter. Capital International Investors now owns 5,081,624 shares of the company’s stock worth $336,607,000 after buying an additional 2,110,240 shares in the last quarter. Steadfast Capital Management LP purchased a new stake in shares of Guardant Health in the first quarter valued at approximately $67,202,000. Casdin Capital LLC purchased a new stake in shares of Guardant Health in the fourth quarter valued at approximately $79,016,000. Finally, D1 Capital Partners L.P. purchased a new stake in shares of Guardant Health in the fourth quarter valued at approximately $47,867,000. 93.69% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Stock Up 3.6 %

The company has a quick ratio of 4.71, a current ratio of 4.87 and a debt-to-equity ratio of 2.13. The business has a 50-day moving average price of $44.52 and a 200-day moving average price of $54.80. The firm has a market capitalization of $5.39 billion, a PE ratio of -12.84 and a beta of 0.81.

Guardant Health Company Profile

(Get Rating)

Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers Guardant360, Guardant360 LDT, Guardant360 CDx, and GuardantOMNI liquid biopsy-based tests for advanced stage cancer; and GuardantINFORM, an in-silico research platform that comprise a clinical-genomic liquid biopsy dataset of advanced cancer patients.

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