abrdn plc Increases Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

abrdn plc lifted its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 47.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 552,473 shares of the company’s stock after buying an additional 178,882 shares during the period. abrdn plc owned about 0.45% of Guardant Health worth $12,674,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GH. Allspring Global Investments Holdings LLC purchased a new position in shares of Guardant Health during the first quarter valued at approximately $273,000. Jennison Associates LLC boosted its position in Guardant Health by 2.0% in the first quarter. Jennison Associates LLC now owns 489,657 shares of the company’s stock worth $10,102,000 after purchasing an additional 9,811 shares during the last quarter. GSA Capital Partners LLP boosted its position in Guardant Health by 269.7% in the first quarter. GSA Capital Partners LLP now owns 31,291 shares of the company’s stock worth $646,000 after purchasing an additional 22,828 shares during the last quarter. Manchester Capital Management LLC purchased a new position in Guardant Health in the first quarter worth $57,000. Finally, Duality Advisers LP purchased a new position in Guardant Health in the first quarter worth $1,154,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $23.00 on Friday. The stock’s 50-day simple moving average is $23.27 and its two-hundred day simple moving average is $25.61. Guardant Health, Inc. has a twelve month low of $15.81 and a twelve month high of $37.04. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. The firm has a market capitalization of $2.83 billion, a P/E ratio of -5.62 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The firm had revenue of $177.24 million during the quarter, compared to analysts’ expectations of $162.59 million. During the same quarter in the previous year, the company posted ($0.67) earnings per share. Guardant Health’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, equities analysts anticipate that Guardant Health, Inc. will post -3.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on GH. UBS Group boosted their price objective on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Craig Hallum boosted their price objective on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Piper Sandler boosted their price objective on Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group boosted their price objective on Guardant Health from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.