Guardant Health, Inc. (NASDAQ:GH) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its position in Guardant Health, Inc. (NASDAQ:GH) by 207.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,745 shares of the company’s stock after purchasing an additional 231,904 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of Guardant Health worth $9,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in Guardant Health by 2.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 16,854 shares of the company’s stock worth $500,000 after acquiring an additional 453 shares during the period. Amalgamated Bank raised its position in Guardant Health by 3.2% during the third quarter. Amalgamated Bank now owns 17,058 shares of the company’s stock worth $506,000 after acquiring an additional 521 shares during the period. CWM LLC raised its position in Guardant Health by 137.1% during the third quarter. CWM LLC now owns 984 shares of the company’s stock worth $29,000 after acquiring an additional 569 shares during the period. State Board of Administration of Florida Retirement System raised its position in Guardant Health by 2.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 32,238 shares of the company’s stock worth $956,000 after acquiring an additional 670 shares during the period. Finally, Keybank National Association OH raised its position in Guardant Health by 10.9% during the third quarter. Keybank National Association OH now owns 6,933 shares of the company’s stock worth $205,000 after acquiring an additional 680 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Stock Down 1.4 %

Shares of GH opened at $17.34 on Wednesday. The company’s 50-day simple moving average is $19.10 and its 200-day simple moving average is $23.11. The stock has a market capitalization of $2.11 billion, a PE ratio of -4.05 and a beta of 0.87. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $41.06. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.65). The firm had revenue of $155.05 million during the quarter, compared to analyst estimates of $151.71 million. Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. Analysts forecast that Guardant Health, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Activity at Guardant Health

In other news, insider Kumud Kalia bought 2,187 shares of Guardant Health stock in a transaction that occurred 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 completion of the acquisition, the insider now directly owns 12,722 shares in the company, valued at $226,706.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler reduced their price objective on shares of Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Guggenheim reaffirmed a “neutral” rating on shares of Guardant Health in a research note on Friday, April 5th. The Goldman Sachs Group lowered their target price on shares of Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Finally, Canaccord Genuity Group lowered their target price on shares of Guardant Health from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and an average price target of $40.40.

Guardant Health 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.