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

Guardant Health (NASDAQ:GH) had its target price dropped by analysts at The Goldman Sachs Group from $32.00 to $28.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 73.27% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Guggenheim reaffirmed a “neutral” rating on shares of Guardant Health in a research report on Friday, April 5th. Piper Sandler dropped their price objective on Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, February 26th. JPMorgan Chase & Co. dropped their price objective on Guardant Health from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group dropped their target price on Guardant Health from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $16.16 on Monday. The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. The company has a market cap of $1.97 billion, a PE ratio of -3.78 and a beta of 0.87. The business has a 50 day moving average of $19.57 and a 200 day moving average of $23.45. Guardant Health has a 52 week low of $16.03 and a 52 week high of $41.06.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.65). The firm had revenue of $155.05 million during the quarter, compared to the consensus estimate of $151.71 million. Guardant Health had a negative return on equity of 301.94% and a negative net margin of 85.02%. As a group, equities research analysts forecast that Guardant Health will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other Guardant Health news, insider Kumud Kalia acquired 2,187 shares of the company’s stock in a transaction on Monday, March 18th. The shares were bought at an average cost of $17.82 per share, with a total value of $38,972.34. Following the completion of the acquisition, the insider now owns 12,722 shares in the company, valued at $226,706.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Guardant Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Guardant Health by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock valued at $301,084,000 after buying an additional 180,424 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Guardant Health in the fourth quarter valued at $167,137,000. Capital International Investors grew 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 purchasing an additional 2,110,240 shares in the last quarter. Alliancebernstein L.P. grew its stake in Guardant Health by 35.2% during the 2nd quarter. Alliancebernstein L.P. now owns 4,463,669 shares of the company’s stock worth $159,799,000 after purchasing an additional 1,161,901 shares in the last quarter. Finally, Eventide Asset Management LLC grew its stake in Guardant Health by 113.8% during the 2nd quarter. Eventide Asset Management LLC now owns 4,008,602 shares of the company’s stock worth $143,508,000 after purchasing an additional 2,133,582 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Guardant Health

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.